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Cathie Wood Increases Teladoc Holdings Across Ark ETFs

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Cathie Wood Increases Teladoc Holdings Across Ark ETFs

The Ark ETFs from Catherine Wood are among the best performing ETFs in 2020 and the active trading could help investors follow potential winning ideas.

What Happened: Wood added additional shares in Teladoc Health (NYSE: TDOC) last week as the stock declined 9% over the last five days.

Ark Genomic Internet ETF (BATS: ARKG) added 39,332 shares of Teladoc on Thursday and 34,106 shares on Friday.

Ark Innovation ETF (NYSE: ARKK) added 136,885 shares on Thursday and 189,875 shares on Friday.

Ark Next Generation Internet ETF (NYSE: ARKW) added 39,274 shares on Thursday and 28,623 shares on Friday.

Related Link: Cathie Wood’s Internet ETF Sells Some Tesla, Xilinx, Buys The Dip In Fastly

Why It’s Important: Teladoc is the sixth-largest holding in the ARKK ETF with a $315 million stake representing 3.3% of assets.

The stock is a top 15 holding in the other two ETFs as well representing 2.6% of assets in ARKW and 3.4% in ARKG.

Wood bought additional shares as the stock fell, which could show she believes the stock is a good long-term play on the rise of telemedicine and the drop was unwarranted.

Teladoc reported third-quarter revenue up 109% year-over-year to $288.8 million. Total visits increased 206% year-over-year to 2.8 million.

The company expects to end the year with 50 million to 51 million U.S. paid members and 21 million to 22 million visit fee only members.

Price Action: Shares of Teladoc are down 4% Monday to $188.38.

 

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