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) 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:
Catherine Wood, the CEO and CIO of ARK Investment Management, is a minority and nonvoting shareholder of 24/7 Wall St., owner of 247wallst.com.
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