Cathie Wood’s ARK Invest Sells Over 570,000 Shares of Pure Storage
A couple of Cathie Wood's Ark Invest funds sold over 570,000 shares of Pure Storage on May 19.
A couple ARK Invest exchange-traded fund run by ETF star Cathie Wood sold over 570,000 shares of Pure Storage Inc. (NYSE: PSTG | PSTG Price Prediction) on Wednesday, as the share price of these funds traded down over 1% in the day’s session. The fund’s share price has greatly improved over the past year.
ARK Innovation ETF (NYSEARCA: ARKK) sold 140,636 shares of Pure Storage, while ARK Next Generation ETF (NYSEARCA: ARKW) sold 435,232 shares. At Wednesday’s closing price, this would have valued this sale at roughly $14.3 million. This is only a small fraction of the total holdings. ARKK is up 75% over the past 52 weeks, and ARKW is up 77%.
Here is a quick look at all the other sales that took place across all ARK ETFs:
| Fund | Ticker | Company | Shares |
|---|---|---|---|
| ARKK | NVS | NOVARTIS AG | 108,426 |
| ARKK | PSTG | PURE STORAGE INC | 140,636 |
| ARKK | NTDOY | NINTENDO CO LTD | 23,799 |
| ARKK | TCEHY | TENCENT HOLDINGS LTD | 112,569 |
| ARKK | TER | TERADYNE INC | 66,806 |
| ARKK | ICE | INTERCONTINENTAL EXCHANGE INC | 82,415 |
| ARKQ | TER | TERADYNE INC | 57,375 |
| ARKW | PSTG | PURE STORAGE INC | 435,232 |
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Catherine Wood, the CEO and CIO of ARK Investment Management LLC, 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.
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