A couple of ARK Invest exchange-traded funds run by ETF star Cathie Wood made a huge sale on Thursday. Specifically, these funds sold over 65,000 shares of Iridium Communications Inc. (NASDAQ: IRDM) altogether, as the prices of these funds were relatively flat on Thursday. Note though that they are up a fair amount in the past year.
ARK Autonomous Technology & Robotics ETF (NYSEARCA: ARKQ) sold 49,933 shares and ARK Space Exploration & Innovation ETF (NYSEARCA: ARKW) sold 16,469 shares of Iridium. At Thursday’s closing prices, this would have valued the sales at roughly $3.1 million altogether. Even though this is a small fraction of their total holdings, every little bit counts. The robotics ETF is up about 47% in the past year, but the other one is up only 3% since it came public.
Check out all the ARK Invest sales for Thursday as well:
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Catherine Wood, the CEO and CIO of ARK Investment Management, is a minority and nonvoting shareholder of 24/7 Wall St., owner of 247wallst.com.