ARK Invest buys the dip in Robinhood, marking its largest position increase in nearly 6 months.

October 29 — Cathie Wood's ARK Invest bought approximately $9.1 million worth of Robinhood shares on Wednesday, marking its largest single-day purchase since April 29 and its first buy since September 8. A total of 99,418 shares were purchased across three ETFs: ARKK, ARKW, and ARKF.

According to data from the BIT stock platform, Robinhood closed down 3.3% at $91.43 that day, with losses exceeding 23% over the past month. Earlier this month, ARK reduced its Robinhood holdings by approximately $47.5 million in total between October 6 and 9. This latest purchase follows Robinhood's earnings report, in which its third-quarter crypto trading revenue fell 55% year-over-year to $120 million, while prediction market revenue reached $173 million.