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