The flagship fund of Cathie Wood’s Ark Invest, the Ark Innovation ETF , sold most of its remaining stake in online real estate firm Zillow , according to the firm’s disclosures. On Friday, the fund sold $37.8 million worth of shares in Zillow, which recently exited the so-called iBuying market after sustaining losses on its home flipping activities. Friday’s sale reduced the Ark position by 54%. Since the beginning of the month, Ark’s Zillow position has dropped to roughly 500,000 shares from 6.8 million.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
