Cathie Wood Sells Another $6.8M In 3D Printing Marketplace Shapeways' SPAC

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Cathie Wood-led Ark Investment Management on Thursday sold 679,335 shares, estimated to be worth about $6.8 million, in blank-check firm Galileo Acquisition Corp GLEO.

Shares of the company closed 0.1% higher at $10.01 on Thursday.

Galileo Acquisition Corp is a special purpose acquisition vehicle company, or SPAC, that will take 3D-printing technology provider Shapeways Inc public via a merger.

The popular investment firm sold the shares of the SPAC via the Ark Autonomous Technology & Robotics ETF ARKQ. No other ETF holds the shares of the company. 

ARKQ holds 736,082 shares, worth $7.36 million, in GLEO.

The investment firm has been heavily shedding shares in Galileo and piling up shares of Jaws Spitfire Acquisition Corp SPFR, the blank-check firm that is set to take 3D printing company Velo3D public instead. Ark Invest has a bullish stance on the 3D printing sector.

See Also: Cathie Wood, Bullish On SpaceX Partner Velo3D, Buys More SPFR Shares, Adds Vertex On Dip

Ark's 3D Printing ETF PRNT is dedicated to the 3D printing industry. PRNT has grown over 20% so far this year and counts 3D Systems Corp DDD as its top holdings among a total of 56 stocks.

Ark’s other key sells on Thursday included Takeda Pharmaceutical Co TAK and buys included Blade Air Mobility Inc BLDE.

Photo by Fred Hsu on Wikimedia

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Posted In: Sector ETFsTrading IdeasETFs3D PrintingARK Investment ManagementCathie WoodShapeways

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