A couple of the ARK Invest exchange-traded funds run by ETF star Cathie Wood made a huge sale on Thursday. Specifically, these funds sold over 1.8 million shares of Palantir Technologies Inc. (NASDAQ: PLTR), as the price of these ETFs were up about 1% on the day. Note that they are up a fair amount in the past year.
ARK Innovation ETF (NYSEARCA: ARKK) sold 1,461,495 shares of Palantir and ARK Next Generation Internet ETF (NYSEARCA: ARKW) sold 375,718 shares. At Thursday’s closing price, this would have valued this sale at roughly $52.9 million. Even though this is a small fraction of the total holdings, every little bit counts. The innovation fund is up 38% in the past year and the other is up 46%.
Check out all of ARK Invest’s sales for Thursday as well:
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.