A couple of ARK Invest exchange-traded funds run by ETF star Cathie Wood sold over 34,000 shares of Shopify Inc. (NYSE: SHOP) shares on Wednesday, as the price of these ETFs dropped sharply in Wednesday’s session. The funds each just turned negative for their performance over the past year.
ARK Innovation ETF (NYSEARCA: ARKK) sold 29,621 shares, and ARK Next Generation Internet ETF (NYSEARCA: ARKW) sold 4,530 shares. At Wednesday’s closing price, this would have valued these sales at roughly $49.9 million. This is only a small fraction of the total holdings. The innovation fund is down 11% in the past 52 weeks, and the other is down 2%.
Here are all the sales across ARK Invest funds on Wednesday:
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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