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Cathie Wood Cuts Apple Stake Almost Entirely — And Buys More Coinbase

Cathie Wood-led Ark Investment Management on Monday shed nearly all of its stake in Apple Inc (NASDAQ:AAPL) and continued to snap up shares of Coinbase Global Inc (NASDAQ:COIN).
Ark sold 188,455 shares, worth about $23.8 million in Apple. After Monday’s sale, the investment firm now holds a little under 3,000 shares in the Cupertino, California-based company via the ARK Fintech Innovation ETF (NYSE:ARKF). No other Ark ETF has a position in Apple. Shares of Apple closed 0.93% lower at $126.27 on Monday.
The New York-based investment firm snapped up another 259,897 shares, worth about $64.5 million, in the cryptocurrency exchange Coinbase via ARKF, the Ark Innovation ETF (NYSE:ARKK), and the ARK Next Generation Internet ETF (NYSE:ARKW).
Coinbase shares closed 3.92% lower at $248.24 on Monday. The three ETFs together held 3.4 million shares, worth about $878.4 million, ahead of Monday’s trade.