Cathie Wood sells $6 million of one of 2024's top stocks

Cathie Wood, head of Ark Investment Management, frequently adjusts her positions, adding to a holding when the stock falls and selling when it rises.

She seems to have done that in February with a well-known technology stock.

Wood’s flagship fund, the Ark Innovation ETF  (ARKK) , underperformed the market in 2024.

While it briefly outperformed the S&P 500 and Nasdaq Composite in January and early February, ARKK is down 3.4% year-to-date as of Feb. 28, compared to a 1.2% gain for the S&P 500 and a 2.4% decline for the Nasdaq Composite.