ARK Space & Defense ETF Adds 33,205 Joby Shares, Dumps 131,400 Iridium
Ark Invest’s ARK Space & Defense Innovation ETF purchased 33,205 shares of Joby Aviation following a fourth-quarter earnings beat, reporting a 14-cent loss versus estimates for a 20-cent loss and year-over-year revenue growth of $30.78 million. The ETF also sold 131,400 Iridium Communications shares.
1. Joby Aviation Purchase
ARK Space & Defense Innovation ETF acquired 33,205 Joby Aviation shares after the company reported a fourth-quarter loss of $0.14 per share versus an expected $0.20 loss and year-over-year revenue growth of $30.78 million, signaling confidence in Joby’s improving financial trajectory.
2. Iridium Communications Sale
The ETF sold 131,400 Iridium Communications shares, reflecting a shift away from satellite communications exposure and reallocating capital toward emerging aviation technology names.
3. Portfolio Implications
These trades indicate a strategic rebalancing within ARKX, increasing emphasis on companies with recent operational improvements while trimming positions in sectors perceived as less growth-oriented.