Cathie Wood’s ARK Invest Dumps Over 380,000 Shares of Iridium Communications Stock
One of Cathie Wood's ARK Invest exchange-traded funds sold over 380,000 shares of Iridium Communications on December 30.
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.
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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.
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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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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.
