One ARK Invest exchange-traded fund run by ETF star Cathie Wood made a huge sale on Thursday. This fund sold over 1.1 million shares of LendingClub Corp. (NYSE: LC), as the price of this ETF gained about 0.5% on the day. Note that this stock is still up handily in the past year.
It was ARK Next Generation Internet ETF (NYSEARCA: ARKW) that sold 1,177,878 shares of LendingClub. At Thursday’s closing price, this would have valued this sale at $33.0 million. Even though this is a small fraction of the total holdings, every little bit counts. The fund is up over 44% in the past 12 months.
Check out all of ARK Invest’s Sells for Thursday:
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.