Cathie Wood’s ARK Invest Dumps Over 165,000 Shares of Iridium Communications Stock
A couple of Cathie Wood's ARK Invest funds sold over 165,000 shares of Iridium Communications on September 17.
A couple of ARK Invest exchange-traded funds run by ETF star Cathie Wood made a huge sale on Friday. Specifically, these funds sold over 165,000 shares of Iridium Communications Inc. (NASDAQ: IRDM) altogether, as the prices of these funds were relatively flat on Friday. Note though that the ETFs are up a fair amount in the past year.
ARK Autonomous Technology & Robotics ETF (NYSEARCA: ARKQ) sold 150,400 shares and ARK Space Exploration & Innovation ETF (NYSEARCA: ARKX) sold 17,017 shares of Iridium. At Friday’s closing prices, this would have valued the sales at roughly $7.5 million altogether. Even though this is a small fraction of their total holdings, every little bit counts. The robotics ETF is up about 45% in the past year, but the other one is up only 1% since it came public.
Check out all the ARK Invest sales for Friday as well:
| Fund | Ticker | Name | Shares |
|---|---|---|---|
| ARKF | 9923HK | YEAHKA | 516,000 |
| ARKG | CLLS | CELLECTIS | 27,671 |
| ARKG | CRBU | CARIBOU BIOSCIENCES | 9,672 |
| ARKK | NTDOY | NINTENDO | 36,993 |
| ARKK | NSTG | NANOSTRING TECHNOLOGIES | 104,400 |
| ARKQ | IRDM | IRIDIUM COMMUNICATIONS | 150,400 |
| ARKW | TSLA | TESLA | 14,362 |
| ARKW | LC | LENDINGCLUB | 401,984 |
| ARKX | IRDM | IRIDIUM COMMUNICATIONS | 17,017 |
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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.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
