A few ARK Invest exchange-traded funds run by ETF star Cathie Wood made huge sales on Tuesday. Specifically, these ETFs sold roughly $130 million worth of Tesla Inc. (NASDAQ: TSLA), as the prices of these funds were down less than 1% on Tuesday. Note though that they are up a fair amount in the past year.
ARK Innovation ETF (NYSEARCA: ARKK) sold 101,200 shares of Tesla, ARK Autonomous Technology & Robotics ETF (NYSEARCA: ARKQ) sold 20,600 shares and ARK Next Generation Internet ETF (NYSEARCA: ARKW) parted with 5,815 shares. At Tuesday’s closing prices, this would have valued the sales at roughly $130.0 million altogether. Even though this is a small fraction of their total holdings, every little bit counts. These are funds are each up between 26% and 40% in the past year.
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: 5 Top Dividend Stocks to Buy Now Should Still Perform Well If Stagflation Bubbles Up
Get Our Free Investment Newsletter
Source: Read Full Article