Cathie Wood Offloads $9.3M In Snapchat, Buys $32M In Etsy

Cathie Wood-led Ark Investment Management on Monday shed 145,727 shares, worth about $9.26 million, in Snapchat parent Snap Inc (NYSE: SNAP) on the day shares of the social media company fell.  Snap shares closed 0.81% lower at $63.57 on Monday. Wood’s firm sold the shares in Snap via the Ark Fintech Innovation ETF (NYSE: ARKF).  ARKF still holds about 1.75 million shares, worth $111.98 million, in the social media company that ranks twelfth among a total of 44 stocks in the fintech innovation ETF.  Ark also holds 921,260 shares, worth $58.56 million, in Snap via the Ark Next Generation Internet ETF (NYSE: ARKW).  See Also: Cathie Wood Sells Snapchat, DocuSign For Second Straight Day, Buys Spotify The New York-based investment firm bought 183,172 shares, worth about $32.12 million, in Etsy Inc (NASDAQ: ETSY), an e-commerce platform for handmade goods and vintage items. Shares of the company closed 2.70% higher at $170.30 on Monday.  The investment firm first bought the shares in Etsy earlier this month, a day after the company revealed plans to buy Gen Z-focused reseller Depop for $1.63 billion as it looks to expand into the fast-growing clothing resale category. ARKW, which bought the shares of the company,…
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