Cathie Wood’s ARK Invest Sells Nearly 800,000 Shares of Snap
One of Cathie Wood's ARK Invest exchange-traded funds sold nearly 800,000 shares of Snap on January 11.
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One ARK Invest exchange-traded fund run by ETF star Cathie Wood sold nearly 800,000 shares of Snap Inc. (NYSE: SNAP | SNAP Price Prediction) on Tuesday, as the share price of this fund traded up 3% in the day’s session. The ETF’s share price has dropped greatly over the past year.
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ARK Fintech Innovation ETF (NYSEARCA: ARKF) parted with 798,760 shares of the camera and social media company. At Tuesday’s closing price, this would have valued this sale at roughly $34.6 million. This is only a small fraction of the total holdings. This fund is down 28% over the past 52 weeks.
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Here is a quick look at all the sales that took place across the ARK Invest ETFs:
| Fund | Ticker | Name | Shares |
|---|---|---|---|
| ARKG | AQB | AQUABOUNTY TECHNOLOGIES | 926,500 |
| ARKG | EVGN | EVOGENE | 53,559 |
| ARKW | SNAP | SNAP | 798,760 |
| ARKW | DOCU | DOCUSIGN | 317,906 |
| ARKX | 2618HK | JD LOGISTICS | 689,487 |
Catherine Wood, the CEO and CIO of ARK Investment Management, is a minority and nonvoting shareholder of 24/7 Wall St.
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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.
