Ark Investment Management LLC, led by Cathie Wood, has reduced its holdings in Meta Platforms Inc (NASDAQ:META)., marking the first time the investment firm has done so in approximately a year.
The company’s premier Ark Innovation ETF offloaded 12,595 shares of the parent company of Facebook on March 17, followed by the sale of an additional 2,160 shares on Tuesday.
According to data compiled by Bloomberg from Ark Investment Management, these transactions represent the firm’s first sales of Meta Platforms stock since at least March of the previous year.
This move is the latest indication of a shift in momentum for major US tech stocks.
