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Investing

Cathie Wood’s ARK Invest Dumps Over 170,000 Shares of Iridium Communications Stock

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By Chris Lange Published
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Cathie Wood’s ARK Invest Dumps Over 170,000 Shares of Iridium Communications Stock

© Photo by Robert Lingley / 21st Space Wing Public Affairs

One ARK Invest exchange-traded fund run by ETF star Cathie Wood made a huge sale on Wednesday. Specifically, this fund sold over 170,000 shares of Iridium Communications Inc. (NASDAQ: IRDM), as the price of this fund bounced back up 1% on Wednesday. Note that this ETF up a fair amount in the past year.

ARK Innovation ETF (NYSEARCA: ARKK | ARKK Price Prediction) sold 172.348 shares of Iridium. At Wednesday’s closing price, this would have valued the sale at roughly $7.5 million. Even though this is a small fraction of their total holdings, every little bit counts. The ETF is up about 31% in the past year.

Check out all the ARK Invest sales for Wednesday as well:

Fund Ticker Name Shares
ARKG SMFR SEMA4 12,280
ARKG NVS NOVARTIS 241,747
ARKG CLLS CELLECTIS 12,212
ARKG CDXS CODEXIS 126,224
ARKG BMY BRISTOL-MYERS SQUIBB 11,930
ARKK NTLA INTELLIA THERAPEUTICS 66,750
ARKK TER TERADYNE 373,251
ARKK IRDM IRIDIUM COMMUNICATIONS 172,348
ARKK SE SEA 65,913
ARKK PRLB PROTO LABS 39,453
ARKK NSTG NANOSTRING TECHNOLOGIES 3,951
ARKK NTDOY NINTENDO 128,900
ARKQ NXPI NXP SEMICONDUCTORS 10,950
ARKW ETSY ETSY 37,007
ARKW LC LENDINGCLUB 7,623
ARKW SE SEA 3,766
ARKX NVDA NVIDIA 1,803

[nativounit]
Catherine Wood, the CEO and CIO of ARK Investment Management, is a minority and nonvoting shareholder of 24/7 Wall St., owner of a673b.bigscoots-temp.com.
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Photo of Chris Lange
About the Author Chris Lange →

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.

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