Cathie Wood’s ARK sells off bulk of remaining Zillow stake as Opendoor position pared as well

Cathie Wood’s ARK Invest completed the sale of the bulk of its remaining stake in Zillow as it also sliced its holding in an iBuying rival, Opendoor Technologies. According to the firm’s disclosure, the flagship Ark Innovation ARKK, -1.77% sold 94% of its holding in Zillow Z, -4.13% ZG, -4.19% with a $30.3 million sale, as the Ark Fintech Innovation ARKF, -2.29% sold $9.2 million Zillow shares. That fund also sold $13.2 million worth of Opendoor OPEN, -2.88%. By contrast, the 18% stock-price tumble in software company Splunk SPLK, -1.33% after the departure of CEO Doug Merritt was seen as a buying opportunity as the Ark Next Generation Internet ETF bought $17.2 million worth of shares.

View Article Origin Here