One ARK Invest exchange-traded fund run by ETF star Cathie Wood sold nearly 800,000 shares of Snap Inc. (NYSE: SNAP) 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.
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.
Here is a quick look at all the sales that took place across the ARK Invest ETFs:
Catherine Wood, the CEO and CIO of ARK Investment Management, is a minority and nonvoting shareholder of 24/7 Wall St.