Cathie Wood's ARK Invest Sells Over 700,000 Shares of Palantir

One of the ARK Invest exchange-traded funds run by ETF star Cathie Wood made a huge sale on Wednesday. Specifically, this fund sold over 700,000 shares of Palantir Technologies Inc. (NASDAQ: PLTR), as the price of this fund was down 1% on the day. Note that this fund is up a fair amount in the past year.

ARK Next Generation Internet ETF (NYSEARCA: ARKW) sold 710,825 shares of Palantir. At Wednesday’s closing price, this would have valued this sale at roughly $18.7 million. Even though this is a small fraction of the total holdings, every little bit counts. The fund is up 84% in the past year.

Check out all of ARK Invest’s sales for Wednesday as well:

Fund Ticker Company Shares
ARKG CSTL Castle Biosciences 26,900
ARKG PSTI Pluristem Therapeutics 1,679
ARKQ RAVN Raven Industries 116,575
ARKQ GLEO Galileo Acquisition 1,600
ARKW LC LendingClub 158,535
ARKW PLTR Palantir Technologies 710,825

Catherine Wood, the CEO and CIO of ARK Investment Management, is a minority and non-voting shareholder of 24/7 Wall St.