Cathie Wood-led Ark Investment Management on Monday shed about 16,621 shares — estimated to be worth about $2.68 million — in Alibaba Group Holding BABA, nearly decimating all of its exposure held in on of its three exchange traded funds.
Alibaba shares, which have declined 30.7% so far this year amid the Chinese regulators’ intense crackdown on the e-commerce giant and its CEO Jack Ma, closed 1.96% higher at $161.06 on Monday.
The popular money managing firm shed nearly all of its shares in the company held via the Ark Space Exploration & Innovation ETF ARKX on Monday but also owns Alibaba via the Ark Fintech Innovation ETF ARKF and the Ark Autonomous Technology & Robotics ETF ARKQ. ARKX now owns less than 1,000 shares in the Chinese e-commerce company.
Together, the three ETFs held 164,925 shares — worth $26 million, in Alibaba ahead of Monday’s trades.
See Also: Cathie Wood's Ark Buys Palantir Shares For 5th Straight Session — Here Are Other Key Trades
Here are some of the other key trades for Ark on Monday:
- Snapped up 263,485 shares — estimated to be worth about $6.54 million — in Palantir Technologies Inc. PLTR its sixth straight-session buy in the Peter Thiel co-founded data analytics company. Palantir shares closed 3.37% higher at $24.82 on Monday.
- Snapped up 19,077 shares — estimated to be worth about $6.8 million — in Lockheed Martin Corp LMT. Shares of the largest U.S. defense contractor pared the day’s gain to close marginally higher at $357.35 on Monday.
- Bought 164,889 shares — estimated to be worth about $10.8 million — in JD.com JD on the day shares of the company closed 3.32% higher at $65.73.
- Shed 9,464 Class C shares — estimated to be worth about $26.7 million — in Alphabet Inc GOOG GOOGL on the day shares closed 1.92% higher at $2,821.99.
- Snapped up 33,868 shares — estimated to be worth about $584,900 — in Genius Sports Ltd GENI on the day shares of the sports data and technology company closed marginally higher at $17.27.
- Shed 7,961 shares — estimated to be worth about $14.4 million — in Mercadolibre Inc MELI. Shares of the Buenos Aires, Argentine-headquartered company that operates online marketplaces dedicated to e-commerce and online auctions, closed 1.31% higher at $1,810 on Monday.
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