Cathie Wood-led Ark Invest on Monday reduced its exposure in $Netflix Inc(NFLX.US)$ by 12.3%, as it shed 14,762 shares — estimated to be worth about $7.68 million — in the online video streaming service.
Netflix shares, which have slipped 3.4% so far this year, closed marginally lower at $519.97 on Monday.
The New York-based investment management group deployed the $ARK Next Generation Internet ETF(ARKW.US)$ and the $ARK Space Exploration & Innovation ETF(ARKX.US)$ to sell the shares in Netflix.
Together, the two ETFs held 119,881 shares, worth $62.79 million, in Netflix ahead of Monday’s trades. No other Ark ETF holds a stake in the company.
The popular asset manager also shed 15,074 shares, estimated to be worth about $3.06 million, in chipmaker $NVIDIA Corp(NVDA.US)$.
Shares of Nvidia, which have risen 55.45% so far this year, closed 0.35% lower at $202.95 on Monday.
Ark Invest sold the shares in Nvidia via ARKX on Monday and also holds shares of the chipmaker via the $ARK Autonomous Technology & Robotics ETF(ARKQ.US)$.
Together, the two ETFs held 229,899 shares, worth $46.2 million in Nvidia ahead of Monday’s trades.
Some of the other key Ark Invest sells on Monday included $Signify Health, Inc.(SGFY.US)$ and buys included $UiPath, Inc.(PATH.US)$.
Source: Ark Invest
Comment(3)
So I should buy more
Ark is Going for cash… sense something coming?
Some finds that the correction may be coming sooner than later, so they want to get take some profit first, as they have also sold all Chinese shares. So it’s really up to your trading strategy and objectives
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