ARK Invest reduced its Coinbase holdings by more than $12 million this week

Cathie Wood’s ARK Invest reduced its holdings of 72,242 Coinbase shares this week, worth more than $12 million. Coinbase (COIN) shares are down 12.26% this week. On Friday, COIN closed down 2.88% at $165.98 and fell another 0.59% after the bell. ARK Invest underweight Nvidia stock again this week despite its bullish outlook on artificial intelligence (AI). On February 22, ARKW reduced its holdings of 5,067 shares of Nvidia stock, worth $4 million. Nvidia (NVDA) shares are up 6.41% for the week, closing at $788.17 on Friday. Additionally, on February 20, ARKW and ARKF sold 190,413 and 104,669 shares of Robinhood stock (HOOD), respectively. On February 22, ARK also reduced its holdings by 37,312 shares of HOOD. HOOD price increased by 8.46% this week. Robinhood shares closed up 3.65% at $14.48 on Friday and rose another 1.17% in after-hours trading. (CoinGape)