On Monday, Cathie Wood's Ark Invest made some significant trades, the most notable being the purchase of Shopify Inc (NYSE:SHOP) shares and the sale of Block Inc (NYSE:SQ) shares.

The Shopify Trade

Ark Invest's ETFs, including Ark Fintech Innovation ETF (NYSE:ARKF), ARK Innovation ETF (NYSE:ARKK), and ARK Next Generation Internet ETF (NYSE:ARKW), purchased a total of 313,923 shares of Shopify on Monday. This move came after the company released its first-quarter earnings report earlier in the month. The trade was valued at approximately $18.45 million, based on Shopify's closing price of $58.78 on the day.

Earlier this month, Benzinga reported that Shopify's shares had tanked after the company reported its first-quarter results, with analysts expressing concerns about the company's profitability.

The Block Inc Trade

On the same day, Ark Invest sold a total of 110,334 shares of Block Inc across its ARKF, ARKK, and ARKW ETFs. This decision came after Block's stock soared following its first-quarter earnings report and strategic Bitcoin (CRYPTO: BTC) investment, as highlighted by Benzinga. The value of this trade was approximately $7.7 million, based on Block's closing price of $69.74 on Monday.

Other Key Trades:

• Ark Invest's ARKF and ARKK ETFs bought shares of Roblox Corp (RBLX).
• ARKF sold shares of Global-E Online Ltd (GLBE). ARKG sold shares of Verve Therapeutics Inc (VERV) and bought shares of Recursion Pharmaceuticals Inc (RXRX).
• ARKQ sold stock of Velo3D Inc (VLD). ARKX bought shares of Iridium Communications Inc (IRDM).