Ark Invest increased its holdings of Block Inc. stock by over $19 million yesterday

ChainCatcher news, according to The Block, Cathie Wood's Ark Invest bought a total of 262,000 shares of Block Inc. (formerly Square) through three ETFs (ARKK, ARKW, ARKF) on Monday, worth approximately $19.2 million.

This increase in holdings comes as Block's stock price has fallen to a three-week low of $73.03 (the lowest since July 18), but the company's Q2 gross profit grew by 14% year-on-year to $2.54 billion, and it raised its full-year profit forecast to $10.17 billion. As of the end of June, Block held 8,692 bitcoins for investment and user transaction services.