Cathie Wood’s ARK Invest Sells Over 550,000 Shares of Pure Storage

One ARK Invest exchange-traded fund run by ETF star Cathie Wood sold over 550,000 shares of Pure Storage Inc. (NYSE: PSTG) on Wednesday, as the share price of this fund traded down nearly 2% in the day’s session. The fund’s share price has greatly improved over the past year.

ARK Innovation ETF (NYSEARCA: ARKK) sold 558,825 shares of Pure Storage. At Wednesday’s closing price, this would have valued this sale is roughly $10.7 million. This is only a small fraction of the fund’s total holdings. This fund is up 60% over the past 52 weeks.

Here is a quick look at all the other sales that took place across all ARK ETFs:

Catherine Wood, the CEO and CIO of ARK Investment Management, is a minority and nonvoting shareholder of 24/7 Wall St.

ALSO READ: 5 Blue Chip Stocks to Buy With Huge Dividends as Interest Rates Plunge

Source: Read Full Article