"Wood Sister" Cathie Wood's flagship ARK Innovation ETF has reduced its holdings in Meta stocks for the first time in nearly a year.

According to Mars Finance, Ark Investment Management led by Cathie Wood is reducing its holdings in Meta Platforms (META.O), marking the first time in about a year and the latest sign of the troubled fate of major U.S. tech stocks. Wood’s flagship ARK Innovation ETF reduced its stake by 12,595 shares of Meta on March 17 and sold another 2,160 shares on Tuesday, marking the first reduction of the company’s stock since at least March of last year. As of December 31, Ark funds held over 460,000 shares of Meta. They spent most of last year buying this stock. Wood’s reduction in holdings highlights the pressure facing the seven tech giants, which have recently lost momentum. (Jinshi)