Investing
Cathie Wood's ARK Invest Dumps Over 380,000 Shares of Iridium Communications Stock
December 31, 2021 7:50 am
One ARK Invest exchange-traded fund run by ETF star Cathie Wood made a huge sale on Thursday. Specifically, this fund sold over 380,000 shares of Iridium Communications Inc. (NASDAQ: IRDM), as the price of this fund gained about 3% on Thursday. Note that this ETF is down a fair amount in the past year.
ARK Innovation ETF (NYSEARCA: ARKK) sold 380.778 shares of Iridium. At Thursday’s closing price, this would have valued the sale at roughly $16.1 million. Even though this is a small fraction of their total holdings, every little bit counts. The ETF is down about 23% in the past year.
Check out all the ARK Invest sales for Thursday as well:
| Fund | Ticker | Name | Shares |
|---|---|---|---|
| ARKG | VRTX | VERTEX PHARMACEUTICALS | 21,551 |
| ARKG | ALLO | ALLOGENE THERAPEUTICS | 164 |
| ARKK | SHOP | SHOPIFY | 17,941 |
| ARKK | TSLA | TESLA | 23,942 |
| ARKK | IOVA | IOVANCE BIOTHERAPEUTICS | 202,646 |
| ARKK | IRDM | IRIDIUM COMMUNICATIONS | 380,778 |
| ARKK | SPOT | SPOTIFY TECHNOLOGY | 108,867 |
| ARKW | LPSN | LIVEPERSON | 1,479 |
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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