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:
| Fund | Ticker | Name | Shares |
|---|---|---|---|
| ARKF | PAGS | PAGSEGURO DIGITAL | 504,183 |
| ARKF | OPEN | OPENDOOR TECHNOLOGIES | 166,324 |
| ARKF | FTCH | FARFETCH | 168,555 |
| ARKF | FB | 43,188 | |
| ARKG | CSTL | CASTLE BIOSCIENCES | 67,491 |
| ARKG | INCY | INCYTE | 150,827 |
| ARKG | VRTX | VERTEX PHARMACEUTICALS | 123,956 |
| ARKK | TSLA | TESLA | 121,011 |
| ARKQ | LMT | LOCKHEED MARTIN | 19,256 |
| ARKW | TSLA | TESLA | 20,058 |
| ARKW | FTCH | FARFETCH | 191,947 |
| ARKX | HOFP | THALES | 12,044 |
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