Investing

Cathie Wood's ARK Invest Sells $62 Million Worth of Tesla Stock

Chris Lange

Published: December 28, 2021 10:05 am

A few of ARK Invest exchange-traded funds run by ETF star Cathie Wood made huge sales on Monday. Specifically, these ETFs sold roughly $62 million worth of Tesla Inc. (NASDAQ: TSLA) altogether, as the prices of these funds were mixed on the day. Note that these funds are mostly down over the past year, with one big exception.
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ARK Innovation ETF (NYSEARCA: ARKK) sold 23,495 shares of Tesla, ARK Autonomous Technology & Robotics ETF (NYSEARCA: ARKQ) sold 5,070 shares and ARK Next Generation Internet ETF (NYSEARCA: ARKW) parted with 27,730 shares. At Monday’s closing price, this would have valued the sales at roughly $61.6 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 26% and 16%, respectively.

Check out all the ARK Invest sales for Monday 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 a673b.bigscoots-temp.com.

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