Cathie Wood Is Selling This High-Flying Stock. Is It a Buy?
Wood's ETFs sell stocks that have had strong runs to pay for other positions.
Overview
Cathie Wood's exchange-traded funds (ETFs) ended June by selling $11.2 million worth of stock in synthetic DNA manufacturer Twist Bioscience (NASDAQ: TWST). On June 30, across its Ark Innovation ETF and Ark Genomic Revolution ETF, over 114,000 shares were sold. That was on the heels of more than 84,000 shares being sold previously in the month.
Hearing that so much stock is being sold can feel concerning, as shareholders may worry that Wood has found a problem with the company that they don't know about. But there could also be not-so-worrisome reasons why the Ark ETFs are selling Twist Bioscience.
Cathie Wood, Ark Investment Management CEO. Image source: Getty Images.
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Originally published at www.fool.com.