Cathie Wood Cuts Another $32M From Healthcare Company Following Amazon-Linked Rumors

Cathie Wood-led Ark Investment Management on Tuesday sold 1,102,797 shares in Signify Health Inc. (NYSE: SGFY), valued at $32.3 million, via two of its key exchange-traded funds.

The firm sold 670,690 shares in the healthcare company via its flagship ETF, the ARK Innovation ETF (NYSE: ARKK), and 432,107 shares via the ARK Genomic Revolution ETF (BATS: ARKG).

Signify Health made up just 0.37% of ARKK portfolio ahead of Tuesday's trade but it was the third-largest holding in ARKG with 4.71% weight.

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The company reported a revenue of $246.20 million for the second quarter, according to the Benzinga Earnings Calendar, slightly missing analyst expectations of a $247.06 million revenue.

Signify Health shares shot up 41% in a single session on Aug. 22, when reports said Amazon.com Inc. (NASDAQ: AMZN) was interested in acquiring the company. Wood began trimming its stake in the company in the same session.

Ark also bought 316,223 shares in precision medicine company CareDx Inc. (NASDAQ: CDNA) and no other major trades were observed on Tuesday.

A day earlier, Wood — who has long backed electric vehicle market leader Tesla Inc. (NASDAQ: TSLA) — made her second-ever buy in legacy automaker General Motors Company (NYSE: GM), piling up 120,004 shares.