Cathie Wood’s ARK Invest Dumps Roughly $88 Million Worth of Tesla Stock
A couple of ARK Invest exchange-traded funds run by ETF star Cathie Wood made huge sales on Thursday. Specifically, these ETFs sold roughly $88 million worth of Tesla Inc. (NASDAQ: TSLA) altogether, as the prices of these funds were up less than 1% on the day. Note though that these funds have just turned negative in terms of their performance over the past year.
ARK Innovation ETF (NYSEARCA: ARKK) sold 59,169 shares of Tesla, and ARK Next Generation Internet ETF (NYSEARCA: ARKW) parted with 21,551 shares. At Thursday’s closing price, this would have valued the sales at roughly $87.5 million altogether. Even though this is a small fraction of their total holdings, every little bit counts. The innovation fund is down 10% in the past year, and the other is down closer to 2%.
Check out all the ARK Invest sales for Thursday as well:
|ARKK||ZM||ZOOM VIDEO COMMUNICATIONS||130,972|
|ARKQ||BLDE||BLADE AIR MOBILITY||44,343|
|ARKW||ZM||ZOOM VIDEO COMMUNICATIONS||33,081|
Catherine Wood, the CEO and CIO of ARK Investment Management, is a minority and nonvoting shareholder of 24/7 Wall St.
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