Investing

Cathie Wood's ARK Invest Dumps Over $30 Million Worth of Tesla Stock

A pair of ARK Invest exchange-traded funds run by ETF star Cathie Wood made huge sales on Friday. Specifically, these ETFs sold roughly $30 million worth of Tesla Inc. (NASDAQ: TSLA) altogether, as the prices of these funds were down less than 1% on the day. Note though that they are up a fair amount in the past year.

ARK Innovation ETF (NYSEARCA: ARKK) sold 17,800 shares of Tesla, and ARK Next Generation Internet ETF (NYSEARCA: ARKW) parted with 9,132 shares. At Friday’s closing prices, this would have valued the sales at roughly $30.6 million altogether. Even though this is a small fraction of their total holdings, every little bit counts. These are funds are up between 11% and 22% in the past year.

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

Fund Ticker Name Shares
ARKG TAK TAKEDA PHARMACEUTICA 95,151
ARKG INCY INCYTE 198,333
ARKG CDXS CODEXIS 21,914
ARKK COIN COINBASE GLOBAL 59,816
ARKK TSLA TESLA 17,800
ARKQ LMT LOCKHEED MARTIN 10,000
ARKW TSLA TESLA INC 9,132

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.