Investing

Cathie Wood's ARK Invest Dumps Over $39 Million Worth of Tesla Stock

A pair of ARK Invest exchange-traded funds run by ETF star Cathie Wood made huge sales on Thursday. Specifically, these ETFs sold roughly $39 million worth of Tesla Inc. (NASDAQ: TSLA) altogether, as the prices of these funds were down more than 2% on Thursday. Note though that they are up a fair amount in the past year.

ARK Innovation ETF (NYSEARCA: ARKK) sold 29,669 shares of Tesla, and ARK Next Generation Internet ETF (NYSEARCA: ARKW) parted with 6,061 shares. At Thursday’s closing prices, this would have valued the sales at roughly $39.2 million altogether. Even though this is a small fraction of their total holdings, every little bit counts. These are funds are each up between 14% and 26% in the past year.

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

Fund Ticker Name Shares
ARKF PDD PINDUODUO 38,599
ARKF SHOP SHOPIFY 4,768
ARKG TAK TAKEDA PHARMACEUTICAL 151,502
ARKG INCY INCYTE 35,300
ARKG CDXS CODEXIS 181,900
ARKK TSLA TESLA 29,669
ARKK U UNITY SOFTWARE 176,041
ARKQ U UNITY SOFTWARE 47,740
ARKW TSLA TESLA 6,061
ARKW U UNITY SOFTWARE 29,035

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.