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Investing

Cathie Wood’s ARK Invest Sells Nearly 800,000 Shares of Snap

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By Chris Lange Published
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Cathie Wood’s ARK Invest Sells Nearly 800,000 Shares of Snap

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One ARK Invest exchange-traded fund run by ETF star Cathie Wood sold nearly 800,000 shares of Snap Inc. (NYSE: SNAP | SNAP Price Prediction) on Tuesday, as the share price of this fund traded up 3% in the day’s session. The ETF’s share price has dropped greatly over the past year.
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ARK Fintech Innovation ETF (NYSEARCA: ARKF) parted with 798,760 shares of the camera and social media company. At Tuesday’s closing price, this would have valued this sale at roughly $34.6 million. This is only a small fraction of the total holdings. This fund is down 28% over the past 52 weeks.
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Here is a quick look at all the sales that took place across the ARK Invest ETFs:

Fund Ticker Name Shares
ARKG AQB AQUABOUNTY TECHNOLOGIES 926,500
ARKG EVGN EVOGENE 53,559
ARKW SNAP SNAP 798,760
ARKW DOCU DOCUSIGN 317,906
ARKX 2618HK JD LOGISTICS 689,487

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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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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