Cathie Wood made a few more technology changes to her Ark Invest portfolio on Friday.
Wood, founder and CEO of ARK Investment Management, is a big name in the investment world – his company’s portfolios have brought returns of more than 100%.
See also: Cathie Wood talks about innovators and disruptors.
What happened: On Friday, during a volatile trading day that saw the SPDR S&P 500 ETF Trust (NASDAQ: SPY) broke below the $ 380 mark on the floor, Ark Invest was optimistic and pessimistic on certain technology names.
Ark Invest plunged once again into Palantir Technologies Inc (NYSE: PLTR), with the fund adding 3,365,400 shares to its portfolio, according to data from Benzinga Pro.
Palantir manufactures big data analysis software used by the United States government, among other customers. In 2008, Palantir launched Gotham, a data analysis platform for the United States government’s intelligence and defense sectors.
Palantir’s shares jumped nearly 3% to $ 24.55 in the after-hours session after Friday, after Ark’s big purchase was posted.
See also: How to Buy Palantir Stock
Other ark movements: Ark also added 497,050 shares from the social media giant Twitter Inc (NYSE: TWTR) on Friday.
Twitter shares traded higher after the analyst’s day event on Thursday, in which it shared a three-year high forecast. Several analysts increased their share price targets on Friday. In addition, inventory may be reacting to a new paid Super Follow feature.
Twitter shares ended major trading on Friday with an increase of about 3%, at $ 77.06 per share, and then rose to 77.25 in the after-hours session.
Meanwhile, Ark went in the opposite direction for people like Apple Inc (NASDAQ: AAPL) and Facebook, Inc. common shares (NASDAQ: FB), with the fund selling 551,131 and 71,281 shares, respectively.
The shares of several tech companies traded lower this week, along with the general market, as higher bond yields put pressure on growth stocks and other stocks.
At the close of Friday’s trading session, Apple was trading slightly higher at 0.22% to $ 121.26 per share, and Facebook up 1.15% to $ 257.62 per share.
Photo courtesy: Cory Doctorow via Flickr
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.