One ARK exchange-traded fund run by ETF star Cathie Wood sold over 150,000 shares of Facebook, Inc. (NASDAQ: FB) shares on Friday, as the prices of this ETF gained nearly 2% in Friday’s session. The ETF is up well over 200% in the last year.
ARK Next Generation Internet ETF (NYSEARCA: ARKW) sold 152,902 shares of Facebook. At Friday’s closing price this would have valued this sell at roughly $44 million. This is only a small fraction of the total holdings. ARKW is up 235% over the past 52 weeks.
24/7 Wall St. recently reported on Facebook:
Facebook Inc. (NASDAQ: FB) may still be at odds with Apple over the tracking of users, but like Google it did make nice with Australia last month over the issue of news aggregation. More recently, the White House is looking to work with Facebook and other social media and tech giants to curb the spread of COVID-19 misinformation.
So how are short sellers feeling about the stock?
The more than 25.02 million Facebook shares short as of February 26, the most recent settlement date, were about 9.4% more than the figure two weeks earlier, as well as the greatest level of short interest since November. The latest figure was also down 17.1% from 30.17 million a year ago. The most recent figure represented about 1.1% of the total float. The 52-week high of about 31 million shares short was seen during last March’s market plunge.
At the average daily volume at the end of the most recent short interest period, it would take more than a day to cover all the short positions.
Catherine Wood, the CEO and CIO of ARK Investment Management LLC is a minority and non-voting shareholder of 24/7 Wall St., LLC, owner of 247wallst.com.