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:
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.