Cathie Wood sells $16 million of megacap tech stock
Ark Innovation ETF is down 6% year-to-date.
When markets dip, Cathie Wood, the head of Ark Investment Management, often sees trading opportunities.
Last week, she trimmed her position in a major tech giant, selling shares for four straight sessions.
Wood’s flagship fund, Ark Innovation ETF (ARKK) , is down 5.95% year-to-date as of March 24, while the Nasdaq Composite and S&P 500 lost 5.81% and 1.94% during the same period, respectively.
