Cathie Wood-led Ark Invest on Monday reduced its exposure in Netflix Inc NFLX 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 and the Ark Space Exploration & Innovation ETF ARKX 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.
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 Autonomous Technology & Robotics ETF ARKQ.
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 buys on Monday included Signify Health Inc SGFY and UiPath Inc PATH.
See also: How to Buy NVIDIA Stock
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