Ark Invest sells $29 million worth of Block Inc shares in the past two days

Cathie Wood's Ark Invest sold 526,991 shares of Block Inc. in the past two trading days. The latest trading documents from the company show that the Ark Innovation ETF (ARKK) sold 203,659 shares of Block company stock on Tuesday and 323,332 shares of the company's stock on Monday.

Block's stock price rose 1% on Tuesday to $55.29. The payment company led by Jack Dorsey has seen its stock price fall by 36% so far this year. Block Inc. operates several businesses that play a key role in the cryptocurrency field, including its popular subsidiary Cash App. According to The Block's stock dashboard, this mobile payment service allows users to transfer money and participate in buying, selling, and holding Bitcoin.