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HomeFinanceCathie Wood’s ARK funds unload another $19 million in Tesla’s stock

Cathie Wood’s ARK funds unload another $19 million in Tesla’s stock

A pair of exchange-traded funds managed by Cathie Wood’s ARK Investment dumped more Tesla Inc. shares Thursday, continuing with a trend that’s stretched on for months.

The ARK Innovation ETF
shed 72,631 shares of Tesla

Thursday, while the ARK Autonomous Technology & Robotics ETF
sold 3,794 shares, according to the daily trade disclosures that ARK posts to its website. Those sales were worth $18.8 million based on Tesla’s Thursday closing price of $245.34.

ARK funds have been selling Tesla shares periodically this year, including at various points in June and July.

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The latest disclosures showed that ARK ETFs also sold shares of other hot technology stocks on Thursday. The Autonomous Technology & Robotics ETF sold 2,487 shares of Nvidia Corp.
while the ARK Genomic Revolution ETF
dumped 7,411 shares of the chip giant. Those sales amounted to $4.2 million based on Thursday’s closing level of $423.88.

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Meanwhile, the Autonomous Technology & Robotics ETF sold 8,153 shares of Alphabet Inc.

and the ARK Space Exploration & Innovation ETF
sold 2,286 shares. The value of that sale was $1.4 million based on the $130.21 Thursday close for Alphabet’s Class C shares.

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This story originally appeared on Marketwatch

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