One of Cathie Wood-led Ark Invest's key exchange traded funds on Wednesday nearly trimmed all of its exposure to Netflix Inc NFLX as it sold 1,627 shares, estimated to be worth about $833,674, in the online video streaming service.
Netflix shares closed 0.67% lower at $512.40 on Wednesday.
The New York-based investment management group deployed the Ark Next Generation Internet ETF ARKW to sell the shares, which after Wednesday’s trades, owns a total of 192 shares in Netflix.
Ark Invest also owns shares in Netflix via the Ark Space Exploration & Innovation ETF ARKX. No other ETF holds any position in Netflix.
The two ETFs, after Wednesday’s trades, still held 27,546 shares, worth about $14.11 million, in the popular video streaming service.
The popular asset manager also snapped up 91,300 shares - estimated to be worth about $4.76 million - in DraftKings Inc DKNG.
DraftKings shares closed 0.38% higher at $52.18 on Wednesday.
Ark Invest investment owns DraftKings shares via three of its active ETFs — ARKW, the Ark Innovation ETF ARKK, and the Ark Fintech Innovation ETF ARKF but deployed only ARKF on Wednesday to buy the shares of the sports betting company.
On a consolidated basis, Ark still held 13.8 million shares, worth $722.17 million, in DraftKings, as of Wednesday’s trade.
The New York-based investment firm also sold 63,862 shares - estimated to be worth about $3.33 million - in DocuSign Inc DKNG.
Shares of DocuSign closed 0.38% lower at $52.18 on Wednesday.
Wood’s firm sold the shares in DocuSign via ARKK and also holds a stake in the company via ARKW.
The two ETFs held 1.77 million, worth $519.86 million, in DocuSign as of Wednesday.
The investment firm also sold 280,031 shares — estimated to be worth about $18.33 million — in Twitter Inc TWTR via ARKW.
ARKK too holds a position in the stock.
Twitter shares closed 0.27% lower at $65.46 on Wednesday.
Together the two ETFs held 12.6 million, worth $825.36, in the Jack Dorsey-led social media company Twitter ahead of Thursday’s trades.
The New York-based investment firm also snapped up 9,700 shares — estimated to be worth about $1.88 million — in Etsy Inc ETSY, an e-commerce platform for handmade goods and vintage items, via ARKF.
Etsy shares closed 2.92% higher at $193.96 on Wednesday.
Ark has been piling up shares in Etsy via ARKF and ARKW and has ahead of Thursday's trade, lifted the position in the company to 626,882 shares, worth $121.59 million, in a total of eight trades.
Some of the other key Ark buys on Wednesday included UiPath Inc PATH and sells included Base Inc BAINF.
See also: How to Buy Netflix Stock
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