One ARK Invest exchange-traded fund run by ETF star Cathie Wood made a huge sale on Friday. Specifically, this fund sold over 115,000 shares of Tesla Inc. (NASDAQ: TSLA), as the price of the fund was down around 5% on the day. Note that the fund is down a fair amount over the past year.
It was the ARK Innovation ETF (NYSEARCA: ARK) that sold 119,256 shares of Tesla. At Friday’s closing price, this would have valued the sale at roughly $121 million. Even though this is a small fraction of the total holdings, every little bit counts. The fund is down 17% in the past year.
Check out all of ARK Invest’s sales for Friday as well:
Catherine Wood, the CEO and CIO of ARK Investment Management, is a minority and nonvoting shareholder of 24/7 Wall St.