Investing

Cathie Wood's ARK Invest Dumps Over $73 Million Worth of Tesla Stock

A couple ARK Invest exchange-traded funds run by ETF star Cathie Wood made huge sales on Friday, as the stock market hit fresh all-time highs. Specifically, these ETFs sold roughly $73 million worth of Tesla Inc. (NASDAQ: TSLA), as the prices of these funds were down more than 1% on Friday. Note though that they are up a fair amount in the past year.

ARK Innovation ETF (NYSEARCA: ARKK) sold 47,484 shares of Tesla, and ARK Next Generation Internet ETF (NYSEARCA: ARKW) sold 32,870 shares. At Friday’s closing prices, this would have valued the sales at roughly $73.1 million altogether. Even though this is a small fraction of their total holdings, every little bit counts. ARK Innovation is up 21% and the other is up 32% in the past year.

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

Fund Ticker Name Shares
ARKG VEEV VEEVA SYSTEMS 32,819
ARKK PRLB PROTO LABS 12,000
ARKK TSLA TESLA 47,484
ARKW TSLA TESLA 32,870
ARKX BA BOEING 5,468

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.