Investing

Cathie Wood's ARK Invest Unloads $22 Million Worth of Tesla Stock

A few of ARK Invest exchange-traded funds run by ETF star Cathie Wood made huge sales on Tuesday. Specifically, these ETFs sold roughly $22 million worth of Tesla Inc. (NASDAQ: TSLA) altogether, as the prices of these funds were down on the day. Note that these funds are mostly down over the past year, with one big exception.

ARK Innovation ETF (NYSEARCA: ARKK) sold 14,740 shares of Tesla, ARK Autonomous Technology & Robotics ETF (NYSEARCA: ARKQ) sold 1,914 shares and ARK Next Generation Internet ETF (NYSEARCA: ARKW) parted with 3,792 shares. At Tuesday’s closing price, this would have valued the sales at roughly $22.2 million altogether. Even though this is a small fraction of their total holdings, every little bit counts. While the robotics fund is up around 4% in the past year, the innovation fund and the internet fund are down about 25% and 16%, respectively.

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

Fund Ticker Name Shares
ARKF INTU INTUIT 3,351
ARKG TXG 10X GENOMICS 35,371
ARKK TSLA TESLA 14,740
ARKQ TSLA TESLA 1,914
ARKW TSLA TESLA 3,792

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.