Exchange-traded funds managed by Cathie Wood’s Ark Investment Management sold about 273,735 American depository receipts of Huya Inc., according to a trading update.
China’s antitrust regulators on Saturday rejected Huya’s proposal to merge with DouYu International Holdings Ltd, saying that it would give Tencent Holdings Ltd. -- which owns stakes in both companies -- an unfair advantage in the country’s game streaming market.
Read: China Watchdog Rejects Tencent-Led Game Streaming Deal
Ark funds also sold 71,238 Novartis AG ADRs, while they bought 247,130 UiPath Inc. shares, 65,737 Recursion Pharmaceuticals Inc. and 58,914 Signify Health Inc. shares.
NOTE: Ark’s ...