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 |
[nativounit]
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.
[recirclink id=883944][wallst_email_signup]
Contact [email protected] for any questions or corrections.
Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics. Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications. A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.
