Cathie Wood’s ARK Invest Sells Over 700,000 Shares of Palantir
One of Cathie Wood's Ark Invest funds sold over 700,000 shares of Palantir on June 30.
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 | PLTR Price Prediction), 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 |
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Catherine Wood, the CEO and CIO of ARK Investment Management, is a minority and non-voting shareholder of 24/7 Wall St.
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Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics. Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications. A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.
