Cathie Wood made a few more moves in technology for her Ark Invest portfolio on Friday.
Wood, Founder and CEO of ARK Investment Management, is a big name in the investment world – her company’s portfolios have generated returns of over 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 in after-hours trading, Ark Invest was bullish and bearish on certain tech names.
Ark Invest once again plunged into Palantir Technologies Inc (NYSE: PLTR), and the fund added 3,365,400 stocks to its portfolio, according to data from Benzinga Pro.
Palantir makes big data analytics software used by the United States government, among other clients. In 2008, Palantir launched Gotham, a data analytics platform for the intelligence and defense sectors of the US government.
Palantir shares rose nearly 3% to $ 24.55 in the after-hours session on Friday following Ark’s release of the big buy.
See also: How to buy Palantir shares
Other movements of the Ark: Ark also added 497,050 shares from the social media giant Twitter Inc (NYSE: TWTR) on Friday.
Twitter shares were trading higher after the company’s Thursday analyst day event, in which it shared a three-year bullish forecast. Several analysts on Friday raised their price targets on the stock. Also, stocks may be reacting to a new paid Super Follow feature.
Shares of Twitter closed prime trading hours Friday up about 3% at $ 77.06 a share, 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 Common shares of Facebook, Inc. (NASDAQ: FB), and the fund sold 551,131 and 71,281 shares, respectively.
Shares of several tech companies were trading lower this week along with the broader market, as higher bond yields put pressure on growth stocks and other stocks.
At the close of business on Friday, Apple was trading slightly higher 0.22% at $ 121.26 per share and Facebook was up 1.15% at $ 257.62 per share.
Photo courtesy: Cory Doctorow via Flickr
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