Cathie Wood’s ARK Invest Dumps Roughly $29 Million Worth of Tesla Stock
A couple of Cathie Wood's ARK Invest exchange-traded funds sold over 25,000 shares of Tesla on December 10.
A couple of ARK Invest exchange-traded funds run by ETF star Cathie Wood made huge sales on Friday. Specifically, these ETFs sold roughly $29 million worth of Tesla Inc. (NASDAQ: TSLA | TSLA Price Prediction) altogether, as the prices of these funds were down around 1% on the day. Note though that these funds are somewhat mixed in terms of their performance over the past year.
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ARK Innovation ETF (NYSEARCA: ARKK) sold 25,377 shares of Tesla, and ARK Autonomous Technology & Robotics ETF (NYSEARCA: ARKQ) parted with 2,968 shares. At Friday’s closing price, this would have valued the sales at roughly $28.8 million altogether. Even though this is a small fraction of their total holdings, every little bit counts. The innovation fund is down 22% in the past year, and the other is actually up closer to 12%.
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Check out all the ARK Invest trades for Friday as well:
| Fund | Direction | Ticker | Name | Shares |
|---|---|---|---|---|
| ARKG | Buy | MASS | 908 DEVICES | 17,400 |
| ARKG | Buy | NVTA | INVITAE | 96,903 |
| ARKG | Buy | QSI | QUANTUM-SI | 82,963 |
| ARKG | Sell | REGN | REGENERON PHARMACEUTICALS | 9,477 |
| ARKK | Buy | SSYS | STRATASYS | 80,627 |
| ARKK | Buy | PD | PAGERDUTY | 122,940 |
| ARKK | Buy | PATH | UIPATH | 308,263 |
| ARKK | Buy | NTLA | INTELLIA THERAPEUTICS | 20,569 |
| ARKK | Buy | MTLS | MATERIALISE | 18,000 |
| ARKK | Sell | TSLA | TESLA | 25,377 |
| ARKQ | Buy | AVAV | AEROVIRONMENT | 19,200 |
| ARKQ | Buy | BLDE | BLADE AIR MOBILITY | 27,621 |
| ARKQ | Sell | TSLA | TESLA | 2,968 |
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.
