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Virgin Galactic shares drop after Cathie Wood’s new space ETF dumps nearly half its holding – CNBC

Virgin Galactic shares fell in trading Tuesday after Ark Invest’s space exploration ETF sold nearly half its stake in the space tourism company.

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Virgin Galactic shares fell in trading Tuesday after Ark Invest’s space exploration ETF sold nearly half its stake in the space tourism company.
Cathie Wood’s firm sold 275,204 shares of Virgin Galactic from its ARKX fund on Monday, cutting the ETF’s holdings of the stock from 585,675 shares to 315,781 shares. Of the 39 ARKX holdings, Virgin Galactic was the 19th largest but is now down to 33rd, making up just over 1% of the fund’s weight.
Ark Invest also sold 315,600 shares of Virgin Galactic from…

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