Cathie Wood’s ARK Invest Sells Nearly $50 Million Worth of Shopify

By Chris Lange Published Dec 2, 7:40AM EST

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Cathie Wood’s ARK Invest Sells Nearly $50 Million Worth of Shopify — © opengridscheduler / Flickr

A couple of ARK Invest exchange-traded funds run by ETF star Cathie Wood sold over 34,000 shares of Shopify Inc. (NYSE: SHOP | SHOP Price Prediction) shares on Wednesday, as the price of these ETFs dropped sharply in Wednesday’s session. The funds each just turned negative for their performance over the past year.
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ARK Innovation ETF (NYSEARCA: ARKK) sold 29,621 shares, and ARK Next Generation Internet ETF (NYSEARCA: ARKW) sold 4,530 shares. At Wednesday’s closing price, this would have valued these sales at roughly $49.9 million. This is only a small fraction of the total holdings. The innovation fund is down 11% in the past 52 weeks, and the other is down 2%.
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Here are all the sales across ARK Invest funds on Wednesday:

Fund	Ticker	Name	Shares
ARKF	COIN	COINBASE GLOBAL	17,026
ARKF	OPEN	OPENDOOR TECHNOLOGIES	387,751
ARKF	AMZN	AMAZON.COM	1,992
ARKG	IOVA	IOVANCE BIOTHERAPEUTICS	42,230
ARKG	REGN	REGENERON PHARMACEUTICALS	6,460
ARKG	CDXS	CODEXIS	121,400
ARKG	INCY	INCYTE	187,064
ARKK	SHOP	SHOPIFY	29,621
ARKW	SHOP	SHOPIFY	4,530
ARKX	LMT	LOCKHEED MARTIN	3,658

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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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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