Cathie Wood’s ARK Invest Sells Over $255 Million Worth of Zillow Shares
A few of Cathie Wood's Ark Invest exchange-traded funds sold over 3.9 million shares of Zillow on November 3.
A few ARK Invest exchange-traded funds run by ETF star Cathie Wood made huge sales on Wednesday. Altogether, these funds sold over 3.9 million shares of Zillow Group Inc. (NASDAQ: Z) shares on Wednesday, as the price of these ETFs gained around 1% on Wednesday — with the exception of one. Note that these ETFs are still up significantly in the last year.
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ARK Fintech Innovation ETF (NYSEARCA: ARKF) parted with 394,047 shares of Zillow, ARK Innovation ETF (NYSEARCA: ARKK) sold 2,858,268 shares and ARK Next Generation Internet ETF (NYSEARCA: ARKW) shed 648,919 shares. At Wednesday’s closing price this would have valued these sales at roughly $255.4 million altogether. Even though this is a small fraction of the total holdings, every little bit counts. ARKF is up 29% in the past year, while ARKK is up 36% and ARKW is up 44%.
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Here’s a look at all the ARK Invest sales that took place Wednesday:
| Fund | Ticker | Name | Shares |
|---|---|---|---|
| ARKF | Z | ZILLOW | 394,047 |
| ARKG | REGN | REGENERON PHARMACEUTICALS | 34,692 |
| ARKG | IOVA | IOVANCE BIOTHERAPEUTICS | 567,391 |
| ARKG | CSTL | CASTLE BIOSCIENCES | 8,950 |
| ARKK | Z | ZILLOW | 2,858,268 |
| ARKK | TSLA | TESLA | 17,787 |
| ARKK | PRLB | PROTO LABS | 66,400 |
| ARKQ | LMT | LOCKHEED MARTIN | 6,900 |
| ARKW | U | UNITY SOFTWARE | 31,102 |
| ARKW | Z | ZILLOW | 648,919 |
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.
