Kathy Wood -led Arc Investment has purchased more than 160,000 shares in the Crypto Exchange Blush, which is in the latest scope of the Crypto -related stock asset manager.
In a filing on Tuesday, the company revealed that it had purchased about 8.21 million shares worth about 8.21 million in its two funds, Arc Innovation ETF (ARK) and Arch Next Generation Internet ETF (ARK), in which the funds purchased 120,609 shares respectively and 40,574 shares respectively.
The firm now has a stock worth more than $ 129 million in the Arc, Arc W, and its box Fentic Innovation ETF (ARKF).
The Arc has supported sharply after its launch on the New York Stock Exchange last month, when it received 2.53 million shares, which is currently worth $ 172 million.
The Arc’s latest purchase is intended to rebuild the faster position
The investment firm bought shares of $ 7.5 million in early this month, and on August 20, they received a $ 21 million Blues stock.
Despite the recent purchase, all three of its ETFs are currently standing at 2.52 million shares, which shows that the firm has earned some partial profits and is now reacting to the stock after falling heavy after its first film.
IPO decreased after sharp stock
The shares in Bilosh (Blush) increased the list day, as the stock touched the $ 118 intra -height, which increased its IPO price by $ 37 to 218 %.
However, according to Google Finance, since its start on August 13, the stock has closed the flat of Tuesday at 51.36, which is about 51.36, which is about 57 % less than its all -time high.
The firm reported that its revenue declined by 0.2 percent year -on -year during the end of March, while its operating income during the same period was 270 percent.
Billish is ready to release its second quarter results on Thursday, which is the first event since its inception.
Analysts are mixed with some neutral, while others are hopeful that it can perform well.
Related: Crypto Bes: IPO Fever, Ether Wars and Stabon Show Downtown
According to Yahoo Finance, last week, Jeffrez started the “hold” rating at a rapid, while JP Morgan and Burnstein assigned the “neutral” rating.
On the contrary, Canter Fitz Jerlfud had a “overweight” rating, which means that he thinks will improve fast.
The box has been collecting other crypto stocks in recent months.
On September 9, it earned 4 4.4 million in Butt Mine, which made its total stack of 6.7 million bitman shares $ 284 million.
The firm also purchased shares of Jack Dorsie -backed Financial Services Company Block, and was in shares of $ 193 million on August 12.
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