Cathie Wood amped up selling of JD.com Inc. shares amid Tencent Holdings Ltd.’s move to pare investment in the tech industry and as a spike in U.S. Treasury yields sparked a rotation out of the expensive sector globally.
ARK Investment Management, Wood’s firm, sold 883,684 American depository receipts of JD.com on Monday to mark its biggest reduction in the company since July, according to ARK’s trading data compiled by Bloomberg. The asset manager has been cutting holdings in the Chinese online retailer since mid-September and now has about 2.4 million shares, a 0.18% stake.
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January 11, 2022 at 01:57PM
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Cathie Wood's ARK Funds Offload Most JD.com Shares Since July - Bloomberg
"wood" - Google News
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