Cathie Wood sells substantial shares held by ARK to raise cash for annual ETF issuance

$ARK Innovation ETF(ARKK.US)$ $Palantir(PLTR.US)$ $UiPath(PATH.US)$ $Robinhood(HOOD.US)$ According to Monday’s daily public trading records, Cathie Wood, CEO and CIO of ARK Invest, and her team sold most of their holdings in five ETFs they actively manage.

ARK clarified in their transaction notice that "all trading activities today (December 27, 2021) are for the purpose of raising cash for the 2021 annual ETF issuance. This cash raising activity has been completed."

ARK Innovation ETF (ARKK) is ARK’s flagship fund. Among Palantir Technologies (PLTR), UiPath (PATH) and Robinhood Markets (HOOD), 43 stocks have been liquidated, and these stocks have the most sold positions. ARKK sold 150,000 shares of PLTR, 90,000 shares of PATH and 81,000 shares of HOOD.

Article excerpted from the US Stock Research Agency