Investing

Cathie Wood's ARK Invest Dumps Roughly $156 Million Worth of Tesla Stock

A couple of ARK Invest exchange-traded funds run by ETF star Cathie Wood made huge sales on Tuesday. Specifically, these ETFs sold roughly $156 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 121,044 shares of Tesla, and ARK Next Generation Internet ETF (NYSEARCA: ARKW) parted with 20,058 shares. At Tuesday’s closing price, this would have valued the sales at roughly $156.5 million altogether. Even though this is a small fraction of their total holdings, every little bit counts. The innovation funds is flat in the past year, and the other is up over 10%.

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

Fund Ticker Name Shares
ARKF PAGS PAGSEGURO DIGITAL 504,183
ARKF OPEN OPENDOOR TECHNOLOGIES 166,324
ARKF FTCH FARFETCH 168,555
ARKF FB FACEBOOK 43,188
ARKG CSTL CASTLE BIOSCIENCES 67,491
ARKG INCY INCYTE 150,827
ARKG VRTX VERTEX PHARMACEUTICALS 123,956
ARKK TSLA TESLA 121,011
ARKQ LMT LOCKHEED MARTIN 19,256
ARKW TSLA TESLA 20,058
ARKW FTCH FARFETCH 191,947
ARKX HOFP THALES 12,044

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.