Cathie Wood, the CEO of Ark Investment Management, performed more selling than buying on April 29, including the sale of a personalized-health-care-benefits provider for businesses.
As of the Fridays close, all valuations below are
Ark Genomic Revolution ETF Reportpurchased 1,549,803 shares ofAccolade, a Seattle health-care-benefits company, for $8.6 million on the buying side.
Accolade''s stock fell 50% Friday, after its largest customer was announced, according to Comcast (CMCSA) - Get Comcast Corporation Class A Report. Wood buys stocks frequently after they fell.
Quantum-Si (QSI) was bought by Ark Genomic for $347,172.
Ark Fintech Innovation ETF (ARKF) - Get Reportunloaded shares of Discovery, a South African insurance and financial services company.
Ark Fintech reportedly sold the shares on the Johannesburg Stock Exchange. Discovery has a thinly traded ADR trading in the United States under the ticker DCYHY.
Ark Genomic suffocated 24,485 shares of Vertex Pharmaceuticals (VRTX) - Get Vertex Pharmaceuticals Incorporated Report, valued at $6.7 million.
Ark Fintech sold 100 shares of LendingClub (LC) on January 21, 2017. It was valued at $1,525. That caused the stock to lose the funds position.
Silvergate Capital Corp. Class A Report, the La Jolla, Calif., a bank-holding company, has also been unloaded 18,100 shares.
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Inflow and performance
The largest Ark Innovation ETF (ARKK) from Woods has dropped by 50% this year due to a decline for technology companies and is down 70% from its February 2021 peak.
Wood has brushed off the declines, claiming that her investment focus is five years. But Ark Innovation has outperformed the S&P 500 in the last five years.
According to Morningstar, the ETF had a total return of 15.5% on April 29, compared to 13.7% for the S&P 500.
According to Bloomberg, investors have apparently not been given up on Wood. Ark Innovation saw an investment inflow of $790 million every year.
On March 29, Morningstar analyst Robby Greengold issued a sluggish critique of Ark Innovation.
ARKK signs of improving its risk management or the ability to navigate the difficult territory it explores, according to a director.
The strategy, which improved dramatically since its arrival in 2020, has been one of the worst-performing U.S.-sold funds. Woods is a liability because to her instincts to build the portfolio.
In a recent interview with Magnifi Media by Tifin, Wood defended Greengolds. I do know there are individuals like that one [Morningstar] who do not understand what we''re doing, she said.
We do not incorporate into their style boxes. I think style boxes will become a thing of the past, as technology blurs the lines between and among sectors.