Cathie Wood’s ARK Invest Sells Nearly 300,000 Shares of Apple

By Chris Lange Updated May 7, 11:45AM EDT · Published May 6, 10:15PM EDT

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Cathie Wood’s ARK Invest Sells Nearly 300,000 Shares of Apple — © Eric Thayer / Getty Images News via Getty Images

One ARK Invest exchange-traded fund run by ETF star Cathie Wood sold nearly 300,000 shares of Apple Inc. (NASDAQ: AAPL | AAPL Price Prediction) on Thursday, as the share price of this fund traded down about 2% in Thursday’s session. The ETF is up right around 100% in the past year.

ARK Fintech Innovation ETF (NYSEARCA: ARKF) sold 298,505 shares of Apple. At Thursday’s closing price, this would have valued this sale at roughly $38.7 million. This is only a small fraction of the total holdings. This fund has roughly doubled over the past 52 weeks.

24/7 Wall St. recently reported on Apple:

Maybe Apple … expected this and figured it would cause a kerfuffle for a day or two before disappearing: The company’s new AirTags location devices are not just useful for finding your lost car keys, but they also can easily be slipped into a purse or car and used to track you, wherever you are and wherever you’re going.

A Washington Post reporter wanted to see how this could be done so he asked a co-worker to pretend to stalk him. His conclusion: “Apple’s efforts to stop the misuse of its trackers just aren’t sufficient.” Apple has built-in technology to warn potential stalking victims, but the warnings are not completely effective.

Apple’s vice president of iPhone marketing, Kaiann Drance, told the paper, “It’s a smart and tunable system, and we can continue improving the logic and timing so that we can improve the set of deterrents.” In other words, Apple probably knew about this, knew that its countermeasures were insufficient and figured it could get the AirTags out the door and fix the problems in the next release.

Meanwhile, in the Oakland, California, courtroom where Apple is defending itself against charges of anticompetitiveness, documents were introduced Wednesday showing steps Apple considered to prevent Netflix from testing whether the streaming service should drop in-app purchases from the Netflix app downloaded from the App Store. The emails are dated between February and April of 2018. In December of that year, Netflix removed from the app the capability to subscribe to Netflix from within the app.

Catherine Wood, the CEO and CIO of ARK Investment Management LLC, 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.