A couple of the ARK Invst exchange-traded funds run by ETF star Cathie Wood made huge sales on Monday. These funds sold over 14,000 shares of Netflix Inc. (NASDAQ: NFLX) shares, as the prices of these exchange-traded funds were up around 1% on the day. Note that they are still up over 100% in the past year.
ARK Next Generation Internet ETF (NYSEARCA: ARKW) sold 11,846 shares of Netflix and ARK Space Exploration & Innovation ETF (NYSEARCA: ARKX) sold 2,916 shares. At Monday’s closing prices, this would have valued this purchases at roughly $7.7 million. Even though this is a small fraction of the total holdings, every little bit counts. ARKW is up 54% in the past year, and ARKX is relatively flat year to date.
Here is a quick look at all the sales made by ARK ETFs:
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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