Investing

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.

By Chris Lange
Published September 20, 2021, 9:03am ET · 1 min read

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A series of large, white satellite dishes are angled upwards against a bright blue sky with scattered clouds. A prominent sun flare is visible in the upper left corner, illuminating the scene. The dishes are constructed from white and gray metal, with intricate support structures visible beneath their parabolic surfaces, conveying a sense of advanced technology and communication infrastructure.
Massive satellite dishes symbolize the global telecommunications infrastructure, now facing scrutiny as emerging technologies like Starlink challenge established players. © PhonlamaiPhoto / Getty Images

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


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.

Contact [email protected] for any questions or corrections.

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Chris Lange

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.

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