A couple of ARK Invest exchange-traded funds run by ETF star Cathie Wood made huge sales on Tuesday. Specifically, these ETFs sold roughly $156 million worth of Tesla Inc. (NASDAQ: TSLA) altogether, as the prices of these funds were down less than 1% on the day. Note though that they are up a fair amount in the past year.
ARK Innovation ETF (NYSEARCA: ARKK) sold 121,044 shares of Tesla, and ARK Next Generation Internet ETF (NYSEARCA: ARKW) parted with 20,058 shares. At Tuesday’s closing price, this would have valued the sales at roughly $156.5 million altogether. Even though this is a small fraction of their total holdings, every little bit counts. The innovation funds is flat in the past year, and the other is up over 10%.
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.
ALSO READ: Top Strategist Says Health Care Could Rule in 2022: 5 Dividend Winners
Get Our Free Investment Newsletter
Source: Read Full Article