A couple ARK Invest exchange-traded funds run by ETF star Cathie Wood made huge sales on Friday, as the stock market hit fresh all-time highs. Specifically, these ETFs sold roughly $73 million worth of Tesla Inc. (NASDAQ: TSLA), as the prices of these funds were down more than 1% on Friday. Note though that they are up a fair amount in the past year.
ARK Innovation ETF (NYSEARCA: ARKK) sold 47,484 shares of Tesla, and ARK Next Generation Internet ETF (NYSEARCA: ARKW) sold 32,870 shares. At Friday’s closing prices, this would have valued the sales at roughly $73.1 million altogether. Even though this is a small fraction of their total holdings, every little bit counts. ARK Innovation is up 21% and the other is up 32% in the past year.
Check out all the ARK Invest sales 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., owner of 247wallst.com.
ALSO READ: Oil Is Heading to $85: 4 Big-Dividend Mega-Cap Integrated Stocks to Buy Now
Get Our Free Investment Newsletter
Source: Read Full Article