Investing

Cathie Wood's ARK Invest Dumps Over $41 Million Worth of Tesla Stock

A few 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), as the prices of these funds were up less than 1% on Thursday. Note though that they are up a fair amount in the past year.

ARK Innovation ETF (NYSEARCA: ARKK) sold 35,520 shares of Tesla, ARK Autonomous Technology & Robotics ETF (NYSEARCA: ARKQ) sold 4,422 shares and ARK Next Generation Internet ETF (NYSEARCA: ARKW) sold 6,472 shares. At Thursday’s closing prices, this would have valued the sales at roughly $41.5 million altogether. Even though this is a small fraction of their total holdings, every little bit counts. These are funds are each up between 24% and 35% in the past year.

Check out all the ARK Invest sales for Thursday as well:

Fund Ticker Name Shares
ARKK PRLB PROTO LABS 38,600
ARKK TSLA TESLA 35,520
ARKQ TSLA TESLA 4,422
ARKW TSLA TESLA 6,472

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.