Cathie Wood-led money managing firm Ark Invest on Friday shed all of its exposure in Chinese e-commerce biggie Alibaba Group Holding BABA while continuing to snap up shares in rival JD.Com Inc JD.
The investment firm held less than 100 shares in the U.S.-listed company ahead of Friday’s trades and deployed Ark Fintech Innovation ETF ARKF and the Ark Space Exploration and Innovation ETF ARKX to sell Alibaba shares on Friday.
The New York-based firm bought 59,000 shares — estimated to be worth about $4.7 million— in JD.com via ARKF on the same day. JD shares closed 0.48% lower at $79.86 on Friday.
ARKF held 1.29 million shares — worth $103.79 million — in JD as of Friday’s trades.
These are some other key Ark trades from Friday:
- Sold 68,017 shares — estimated to be worth $18.35 million — in Square Inc SQ. Shares of the Jack Dorsey-led company closed 1.45% higher at $269.74 on Friday.
- Sold 18,810 shares — estimated to be worth about $1.78 million — in Trimble Inc TRMB on the day shares of the company closed 0.53% higher at $94.86.
- Bought 84,604 shares— estimated to be worth about $3.96 million — in Pfizer Inc PFE on the day shares closed marginally higher at $46.84.
Photo: Courtesy of Alibaba
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