Cathie Wood’s ARK Invest Sells GitLab Stock and Buys Bitcoin ETF in Latest Trades

TLDR

• Cathie Wood’s ARK Invest dumped 208,528 GitLab shares valued at $8.46 million on November 28
• ARK purchased 70,125 shares of ARK 21Shares Bitcoin ETF worth $425,000 during the same trading session
• The GitLab sale marks the second major reduction in four days after a $26.8 million sale on November 25
• ARK also reduced holdings in Iridium Communications, Ibotta, and Exact Sciences
• Trades occurred across ARK Innovation ETF, ARK Next Generation Internet ETF, and ARK Fintech Innovation ETF

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Cathie Wood’s ARK Invest disclosed new trading activity for November 28 in its latest regulatory filing. The investment firm sold shares of software company GitLab while increasing its position in the ARK 21Shares Bitcoin ETF.

GitLab Inc., GTLB

ARK unloaded 208,528 GitLab shares worth approximately $8.46 million. The transactions took place across two of its exchange-traded funds: ARK Innovation ETF and ARK Next Generation Internet ETF.

This represents the second consecutive GitLab reduction in less than a week. Just three days earlier on November 25, ARK sold 646,911 GitLab shares valued at roughly $26.8 million.

The repeated sales indicate ARK is systematically decreasing its stake in the DevOps software provider. GitLab offers code repository management and continuous integration tools to enterprise clients.

Additional Portfolio Reductions

ARK Invest trimmed several other technology and healthcare positions on November 28. The firm sold 89,446 Iridium Communications shares worth about $1.47 million.

Iridium provides satellite-based communications services through its network of low Earth orbit satellites. The company serves government, commercial, and individual customers worldwide.

The investment firm also disposed of 22,281 Ibotta shares valued at approximately $523,000. Ibotta operates a mobile app that offers cash-back rewards on consumer purchases.

ARK sold 918 Exact Sciences shares worth around $93,000. Exact Sciences develops cancer screening products and molecular diagnostic tests.

Bitcoin ETF Accumulation Continues

While reducing equity positions, ARK expanded its cryptocurrency exposure. The firm acquired 70,125 shares of ARK 21Shares Bitcoin ETF valued at roughly $425,000.

The Bitcoin ETF purchases occurred through ARK Next Generation Internet ETF and ARK Fintech Innovation ETF. The ARK 21Shares Bitcoin ETF holds physical Bitcoin and trades under ticker ARKB.

This buying activity extends a recent trend of Bitcoin ETF accumulation by ARK. The firm has made multiple ARKB purchases over several trading sessions.

Wood has maintained a bullish stance on Bitcoin for years. ARK regularly publishes research reports analyzing cryptocurrency markets and digital asset technology.

About ARK’s Trading Strategy

ARK operates multiple thematic ETFs focused on innovation and disruptive technology. The firm’s investment approach emphasizes long-term growth opportunities across emerging sectors.

The company’s flagship fund, ARK Innovation ETF, holds diversified positions in technology, healthcare, and financial services companies. ARK manages billions in assets across its ETF lineup.

Federal regulations require ETF managers to disclose daily trading activity. These filings provide transparency into portfolio changes made by investment firms.

ARK’s November 28 trades reflect its active management style and evolving market views. The firm regularly rebalances holdings based on its research team’s analysis and valuation assessments.

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