Cathie Wood Offloads $9.3M In Snapchat, Buys $32M In Etsy


Cathie Wood-led Ark Investment Management on Monday shed 145,727 shares, worth about $9.26 million, in Snapchat parent Snap Inc SNAP on the day shares of the social media company fell. 

Snap shares closed 0.81% lower at $63.57 on Monday.

Wood’s firm sold the shares in Snap via the Ark Fintech Innovation ETF ARKF

ARKF still holds about 1.75 million shares, worth $111.98 million, in the social media company that ranks twelfth among a total of 44 stocks in the fintech innovation ETF. 

Ark also holds 921,260 shares, worth $58.56 million, in Snap via the Ark Next Generation Internet ETF ARKW

See Also: Cathie Wood Sells Snapchat, DocuSign For Second Straight Day, Buys Spotify

The New York-based investment firm bought 183,172 shares, worth about $32.12 million, in Etsy Inc ETSY, an e-commerce platform for handmade goods and vintage items.

Shares of the company closed 2.70% higher at $170.30 on Monday. 

The investment firm first bought the shares in Etsy earlier this month, a day after the company revealed plans to buy Gen Z-focused reseller Depop for $1.63 billion as it looks to expand into the fast-growing clothing resale category.

ARKW, which bought the shares of the company, holds 340,551 shares, worth about $57.99 million in Etsy. No other ETF currently holds shares of the company. 

Some of the other key Ark Invest sells on Monday include Teradyne Inc TER and buys include Signify Health Inc SGFY.

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Posted In: Sector ETFsTrading IdeasETFsARK Investment ManagementCathie Woode-commerceSnapChatsocial media
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