Cathie Wood-led Ark Investment Management on Tuesday sold 1,102,797 shares in Signify Health Inc. SGFY, valued at $32.3 million, via two of its key exchange-traded funds.
The firm sold 670,690 shares in the healthcare company via its flagship ETF, the ARK Innovation ETF ARKK, and 432,107 shares via the ARK Genomic Revolution ETF ARKG.
Signify Health made up just 0.37% of ARKK portfolio ahead of Tuesday’s trade but it was the third-largest holding in ARKG with 4.71% weight.
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The company reported a revenue of $246.20 million for the second quarter, according to the Benzinga Earnings Calendar, slightly missing analyst expectations of a $247.06 million revenue.
Signify Health shares shot up 41% in a single session on Aug. 22, when reports said Amazon.com Inc. AMZN was interested in acquiring the company. Wood began trimming its stake in the company in the same session.
Ark also bought 316,223 shares in precision medicine company CareDx Inc. CDNA and no other major trades were observed on Tuesday.
A day earlier, Wood — who has long backed electric vehicle market leader Tesla Inc. TSLA — made her second-ever buy in legacy automaker General Motors Company GM, piling up 120,004 shares.
Image and article originally from www.benzinga.com. Read the original article here.