The ARK Autonomous Technology & Robotics ETF (ARKQ) also bought 139,227 shares of Virgin Galactic on April 12 and an additional 235,500 shares on April 13.
Six days later, the ETF sold 315,600 shares, and Virgin Galactic fell to the 31st largest holding of the tech fund.
When the ARK funds sold their Virgin holdings on April 19, shares traded between $23.63 and $21.55, meaning Wood’s ETFs most likely locked in significant losses on their trades.
Virgin Galactic shares are down roughly 24% since April 12 after the company’s founder, Richard Branson, offloaded approximately $150 million worth of stock last week.
The sales took place between April 12 and April 14 at prices ranging from $26.82 to $28.73.
Virgin Galatic is an American spaceflight company that aims to provide suborbital spaceflights to space tourists. It posted a net loss of $74 million in its latest third-quarter earnings report and has yet to earn any significant revenues.