Investing

Cathie Wood's ARK Invest Dumps Over 380,000 Shares of Iridium Communications Stock

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.