Cathie Wood’s ARK Invest Dumps Over $73 Million Worth of Tesla Stock
A couple of Cathie Wood's ARK Invest exchange-traded funds sold over 80,000 shares of Tesla on October 22.
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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 | TSLA Price Prediction), 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.
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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.
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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.
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Contact [email protected] for any questions or corrections.
Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
