Cathie Wood’s ARK Invest Dumps Over $41 Million Worth of Tesla Stock
Some of Cathie Wood's ARK Invest exchange-traded funds sold over 40,000 shares of Tesla on December 9.
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 | TSLA Price Prediction) 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.
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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.
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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.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
