On Wednesday, Cathie Wood-led Ark Invest continued its trend of offloading shares of Robinhood Markets Inc ( HOOD ) and Palantir Technologies Inc ( PLTR ) , marking significant trades for the day.

The Robinhood Trade: Ark Invest’s Ark Fintech Innovation ETF ( ARKF ) sold 24,796 shares of Robinhood. This decision aligns with Ark’s recent trading patterns, which have seen a steady decrease in Robinhood holdings.

The move comes in the wake of Robinhood’s $3.9 million settlement with California’s Department of Justice over its previous ban on Bitcoin (CRYPTO: BTC) withdrawals. Despite this setback, Robinhood has been evolving from a meme stock trading platform to a serious contender against traditional brokerages. The value of the trade, based on Robinhood’s closing price of $22.95 on the same day, is approximately $569,368.

Notably, Robinhood shares rose after the Federal Reserve cut interest rates by 50 basis points, benefiting from increased user engagement, margin trading, and favorable growth stock valuations in a low-rate environment. The shares appreciated 1.4% in the regular session and gained 0.9% in the after-hours trading.

The Palantir Trade: Ark Invest’s ARK Innovation ETF ( ARKK ) fund sold 32,772 shares of Palantir ( PLTR ). This move followed the company’s 5th AIPCon, where CEO Alex Karp expressed optimism about Palantir’s inclusion in the S&P 500 Index and the company’s potential for growth. Based on Palantir’s closing price of $36.38 on the same day, the value of the trade is approximately $1.2 million.

See Also: Expert Says Warren Buffett’s Top Executive Ajit Jain Sold Berkshire Hathaway Stake Because ‘The Stock Was Fully Pricing The Business’

Other Key Trades:

Ark Invest sold shares of Veeva Systems Inc. The firm also offloaded shares of Butterfly Network Inc.

Ark Invest bought shares of Tempus AI Inc and sold shares of Roblox Corp.

Ark Invest fund sold shares of Intuitive Surgical Inc and bought shares of 3D Systems Corp.

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