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.
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.
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