Investing

Cathie Wood's ARK Invest Dumps Roughly $29 Million Worth of Tesla Stock

Chris Lange

Published: December 13, 2021 10:10 am

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) 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%.

Check out all the ARK Invest trades for Friday as well:

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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