One ARK Invest exchange-traded fund run by ETF star Cathie Wood sold nearly 190,000 shares of Apple Inc. (NASDAQ: AAPL) on Monday, as the share price of this fund traded down less than 1% in Monday’s session. The ETF is up a fair amount in the past year.
ARK Fintech Innovation ETF (NYSEARCA: ARKF) sold 188,455 shares of Apple. At Monday’s closing price, this would have valued this sale at roughly $23.8 million. This is only a small fraction of the total holdings. This fund is up about 77% over the past 52 weeks.
Check out all of ARK Invest’s sales on Monday.
24/7 Wall St. recently reported on Apple:
The big news expected from Apple … this week is the introduction of new, lossless and high-resolution Apple Music tiers. In the context of music streaming, lossless/hi-res means that music files are not compressed at the time of recording or playback, or, if they are, the compression scheme does not lose any information. It’s complicated.
Apple’s announcement is rumored to be set for Tuesday. The company is calling the new lossless/high-res services HiFi. A new, third-generation of AirPods may be announced at the same time, although many Apple watchers expect the new AirPods to come later. An intrepid designer has even located a new logo for the service.
Catherine Wood, the CEO and CIO of ARK Investment Management LLC, is a minority and nonvoting shareholder of 24/7 Wall St., owner of 247wallst.com.