Cathie Wood's Ark Investment adds Square, Coinbase shares to ETFs

Joe Raedle/Getty Images News Cathie Wood's ARK Investment Management adds almost 226K shares of Square (SQ) to its ETFs on Friday, according to ARK's daily trade information disclosure. The addition occurs the day after Square chief Jack Dorsey announced that the fintech is starting a new business to build an open developer platform for DeFi services using bitcoin. Square shares drop 2.0% in premarket trading. ARK Innovation ETF (ARKK) buys 179,664 shares of Square, making up 0.1943% of the ETF's holdings. ARK Next Generation Internet ETF (ARKW) buys 46,273 Square shares, comprising 0.1924% of that ETF's holdings. Also of note, ARKK buys 64,001 shares of Coinbase Global (COIN). COIN declines 2.0%. Notable sales: ARKW sells 348,018 shares of Opendoor Technologies (OPEN) and ARKK sells 256,150 shares of Novartis (NVS). OPEN drops 2.2%, NVS slides 1.6%. ARKK falls 2.5% and ARKW dips 1.7%. SA contributor BK Tan sees Square powering on.