Investing

Cathie Wood's ARK Invest Dumps Over $41 Million Worth of Tesla Stock

A few of ARK Invest exchange-traded funds run by ETF star Cathie Wood made huge sales on Thursday. Specifically, these ETFs sold roughly $41 million worth of Tesla Inc. (NASDAQ: TSLA) altogether, as the prices of these funds were down more than 4% on the day. Note though that these funds are down over the past year, with one big exception.

ARK Innovation ETF (NYSEARCA: ARKK) sold 25,753 shares of Tesla, ARK Autonomous Technology & Robotics ETF (NYSEARCA: ARKQ) sold 4,655 shares and ARK Next Generation Internet ETF (NYSEARCA: ARKW) parted with 10,453 shares. At Thursday’s closing price, this would have valued the sales at roughly $41.0 million altogether. Even though this is a small fraction of their total holdings, every little bit counts. While the robotics fund is up around 12% in the past year, the others are down 7% or more.

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

Fund Ticker Name Shares
ARKF PYPL PAYPAL 19,532
ARKF SHOP SHOPIFY 4,372
ARKK TSLA TESLA 25,753
ARKQ TSLA TESLA 4,655
ARKW DIS WALT DISNEY 69,772
ARKW TSLA TESLA 10,453

Catherine Wood, the CEO and CIO of ARK Investment Management, is a minority and nonvoting shareholder of 24/7 Wall St.