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Investor Alert

Nov. 15, 2021, 3:27 a.m. EST

Cathie Wood's ARK sells most of remaining Zillow stake

The flagship fund of Cathie Wood's Ark Invest, the Ark Innovation ETF (PSE:ARKK) , sold most of its remaining stake in online real estate firm Zillow (NAS:Z) , 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.

Link to MarketWatch's Slice.