Cathie Wood’s ARK Invest Dumps Over $41 Million Worth of Tesla Stock – 24/7 Wall St.
A few of ARK Invest exchange-traded funds run by ETF star Cathie Wood made huge sales on Thursday. Specifically, these ETFs sold roughly $41 million worth of Tesla Inc. (NASDAQ: TSLA) altogether, as the prices of these funds were down more than 4% on the day. Note though that these funds are down over the past year, with one big exception.
ARK Innovation ETF (NYSEARCA: ARKK) sold 25,753 shares of Tesla, ARK Autonomous Technology & Robotics ETF (NYSEARCA: ARKQ) sold 4,655 shares and ARK Next Generation Internet ETF (NYSEARCA: ARKW) parted with 10,453 shares. At Thursday’s closing price, this would have valued the sales at roughly $41.0 million altogether. Even though this is a small fraction of their total holdings, every little bit counts. While the robotics fund is up around 12% in the past year, the others are down 7% or more.
Check out all the ARK Invest sales for Thursday as well:
Catherine Wood, the CEO and CIO of ARK Investment Management, is a minority and nonvoting shareholder of 24/7 Wall St.