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:
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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