Cathie Wood's exchange-traded funds (ETFs) ended June by selling $11.2 million worth of stock in synthetic DNA manufacturer Twist Bioscience (NASDAQ: TWST). On June 30, across its Ark Innovation ETF and Ark Genomic Revolution ETF, over 114,000 shares were sold. That was on the heels of more than 84,000 shares being sold previously in the month.
Hearing that so much stock is being sold can feel concerning, as shareholders may worry that Wood has found a problem with the company that they don't know about. But there could also be not-so-worrisome reasons why the Ark ETFs are selling Twist Bioscience.
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Ark's ETFs are actively managed, with stakes in companies worth millions or hundreds of millions of dollars. While selling over $11 million worth of a stock sounds significant, it also needs to be taken in context of just how much Twist Ark owns.
As of July 15, the Ark Genomic Revolution ETF held more than $121 million worth of Twist, and it was that ETF's third-largest holding. In addition, the Ark Innovation ETF holds over $211 million worth of Twist.