Cathie Wood Watch: Ark Buys E-Commerce and Biotech, Sells Payments

Ark also bulked up on biotech stocks. All the stocks Wood bought and sold have slumped over the past six months.

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Mar 22, 2022 10:16 AM EDT

Investment manager Cathie Wood, chief executive of Ark Investment Management, was active buying and selling big-name technology stocks on Monday.

She also continued her foray into the biotechnology sector. (All valuations are as of Monday’s close.)

Ark Fintech Innovation ETF (ARKF) – Get ARK Fintech Innovation ETF Report bought 32,635 shares of e-commerce stalwart Shopify (SHOP) – Get Shopify, Inc. Class A Report, valued at $22.3 million. The stock has dropped 52% over the past six months.

Ark Fintech purchased 96,978 shares of communications-software company Twilio (TWLO) – Get Twilio, Inc. Class A Report, valued at $15.3 million. The stock has slid 54% over the past six months.

Ark Fintech sold 200 shares of e-signature company DocuSign (DOCU) – Get DocuSign, Inc. Report, valued at $19,172. That closed out Ark Fintech’s position in the stock, which has dropped 65% over the past six months.

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CRYPTOCURRENCY

Ark Fintech also dumped 281,910 shares of payment-systems company Block (SQ) – Get Block Inc Class A Report, which was valued at $38 million. The stock has lost 46% over the past six months.

As for biotech, Ark Genomic Revolution ETF (ARKG) – Get ARK Genomic Revolution ETF Report bought 52,752 shares of Adaptive Biotechnologies (ADPT) – Get Adaptive Biotechnologies Corp. Report, which was valued at $667,313. The stock has plummeted 67% over the past six months.

Finally, Ark Genomic purchased 7,877 shares of Cellectis (CLLS) – Get Cellectis SA Report, valued at $31,744 as of Monday’s close. The stock has shed 70% over the past six months.

Last week’s surge by the equity market was kind to Wood. Ark’s flagship fund Ark Innovation ETF (ARKK) – Get ARK Innovation ETF Report registered its biggest four-day return since the fund’s inception in 2014, ascending more than 25%, The Wall Street Journal reports. Ark’s funds hold mainly young technology stocks.

To be sure, Ark Innovation is still down 32% year to date, after a 23% drop last year. But results have turned out better for the longer term. Ark has generated an annualized total return of 25% over the past five years, compared with 16% for the S&P 500, according to Morningstar.