Investing

Cathie Wood's ARK Invest Dumps $90 Million Worth of Tesla Stock

A couple of ARK Invest exchange-traded funds run by ETF star Cathie Wood made huge sales on Thursday. Specifically, these ETFs sold roughly $90 million worth of Tesla Inc. (NASDAQ: TSLA) altogether, as the prices of these funds were down over 5% on the day. Note that these funds are mostly down over the past year.

ARK Innovation ETF (NYSEARCA: ARKK) sold 71,638 shares of Tesla, and ARK Next Generation Internet ETF (NYSEARCA: ARKW) parted with 16,118 shares. At Thursday’s closing price, this would have valued the sales at roughly $90.5 million altogether. Even though this is a small fraction of their total holdings, every little bit counts. The innovation fund was down 44% in the past year, and the internet fund is down about 34%.

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

Fund Ticker Name Shares
ARKF SNAP SNAP 70,462
ARKG EVGN EVOGENE 2,900
ARKG AQB AQUABOUNTY TECHNOLOGIES 14,575
ARKG VRTX VERTEX PHARMACEUTICALS 38,821
ARKK TSLA TESLA 71,638
ARKK IRDM IRIDIUM COMMUNICATIONS 45,700
ARKK EDIT EDITAS MEDICINE 26,523
ARKQ TER TERADYNE 8,176
ARKW SNAP SNAP 34,881
ARKW TSLA TESLA 16,118

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.