ARK Innovation ETF Portfolio Changes
Cathie Wood, manager of the ARK Innovation ETF (NYSEMKT: ARKK), recently adjusted the fund’s holdings, selling off shares of two major “Magnificent Seven” stocks—Alphabet (GOOGL) and Amazon (AMZN). On September 15, Wood sold her last 93 shares of Alphabet and reduced her stake in GOOG by 11.7%, amounting to approximately $13 million. As of September 16, ARKK holds about 288,000 shares of GOOG valued at roughly $98 million, representing 1.5% of the portfolio. Additionally, the ETF sold 20,000 shares of Amazon, reducing its position by about 3.2% for a total worth of $5.1 million.
In contrast, Wood increased the ARKK ETF’s position in Meta Platforms (NASDAQ: META) by purchasing around 38,000 shares on September 9 for nearly $25 million, bringing its total holding to about 191,000 shares valued at $128 million, or 2% of the portfolio. Notably, Meta’s stock has risen approximately 14% over the last month, in stark contrast to the declining trends of Alphabet and Amazon.
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