Cathie Wood-led Ark Investment Management on Wednesday shed more weight in Palantir Technologies Inc , its second such sale in the data analytics company in recent months.
The investment firm sold 710,825 shares, estimated to be worth about $18.74 million, in the Peter Thiel-backed company on the day shares of the company closed 1.01% lower at $26.36 on Wednesday.
Ark Invest deployed ARK Next Generation Internet ETF to buy the shares on Wednesday. The Ark Innovation ETF also holds Palantir stock.
Together, the two ETFs held 28.48 million shares, worth about $762.48 million, ahead of Wednesday’s trade.
Some of the other key Ark buys on Wednesday included UiPath Inc and Quantum-Si Inc sells include Pluristem Therapeutics Inc.