A couple of ARK Invest exchange-traded funds run by ETF star Cathie Wood made a huge sale on Tuesday. Specifically, these funds sold over $66 million worth of Tesla Inc. (NASDAQ: TSLA) altogether, as the prices of these funds were down around 1% on Tuesday. Note though that they are up a fair amount in the past year.
ARK Innovation ETF (NYSEARCA: ARKK) sold 70,369 shares of Tesla, and ARK Next Generation Internet ETF (NYSEARCA: ARKW) sold 18,555 shares. At Tuesday’s closing prices, this would have valued the sales at roughly $66 million altogether. Even though this is a small fraction of their total holdings, every little bit counts. The innovation ETF is up 33% in the past year, and the internet ETF is up 44%.
Check out all the ARK Invest sales for Tuesday as well:
Catherine Wood, the CEO and CIO of ARK Investment Management, is a minority and nonvoting shareholder of 24/7 Wall St., owner of 247wallst.com.
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