Cathie Wood led Ark Investment Management on Wednesday neared a complete exit from Walt Disney Co DIS and Peloton Interactive Inc PTON as it sold more of its remaining shares in the two companies.
After the latest sale, the popular money managing firm owns 150 shares in Disney and 200 in Peloton.
St. Petersburg, Florida-based Ark Invest on Tuesday sold 1,306 shares and 1,595 shares in Disney and Peloton, estimated to be worth over $137,000 in total, on Wednesday.
Ark Invest had in October sold a bulk of its shares in the exercise equipment and media company.
Peloton shares closed 0.7% higher at $9.7 on Wednesday and are down 92% over the past year, according to data from Benzinga Pro.
Wood’s firm has also been selling shares in Disney after having piled up a significant stake in May last year ahead of the reopening of theme parks as economies around the globe emerged from the COVID-19 pandemic.
Disney shares closed 0.2% higher at $93.5 on Wednesday and the stock is down 40.3% year-to-date.