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ARK Updates | Cathie Wood nearly erases Alibaba stake, sells $3M in Google — here's what it bought instead on Wednesday

Benzinga Real-time News ·  Sep 2, 2021 05:33  · Trending

Cathie Wood’s Ark Invest now holds just about 700 shares in $Alibaba (BABA.US)$ after the money managing firm on Wednesday further reduced its exposure in the e-commerce giant.

Ark Invest sold 3,626 shares — estimated to be worth about $628,313 — in Alibaba, as its shares closed 3.77% higher at $173.28 on Wednesday.

The $ARK Space Exploration & Innovation ETF(ARKX.US)$ sold 533 shares, $ARK Autonomous Technology & Robotics ETF(ARKQ.US)$ shed 1,376 shares and $ARK Fintech Innovation ETF(ARKF.US)$ sold 1,717 shares in the company. 

The popular money manager had been bullish on Alibaba until June but reduced the bulk of its exposure in Alibaba last month amid continued regulatory scrutiny of tech stocks in China. 

Here are some of the other key trades for Ark on Wednesday:

Sold 1,043 Class C shares — estimated to be worth about $3 million — in $Alphabet -CL C(GOOG.US)$ via $ARK Innovation ETF(ARKK.US)$.

Bought 16,089 shares — estimated to be worth about $2.34 million — in $Teladoc Health(TDOC.US)$ via $ARK Fintech Innovation ETF(ARKF.US)$. Shares of the company closed 0.87% higher at $145.68.

Bought 328,231 shares — estimated to be worth about $17.56 million — in $Pfizer(PFE.US)$. Shares of the pharma company closed marginally lower at $46.04.

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Source: ARK INVEST

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