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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
ARKK
shed 72,631 shares of Tesla
TSLA,
-1.69%

Thursday, while the ARK Autonomous Technology & Robotics ETF
ARKQ
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.
NVDA,
-1.98%
,
while the ARK Genomic Revolution ETF
ARKG
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.
GOOGL,
-0.21%

GOOG,
-0.15%
,
and the ARK Space Exploration & Innovation ETF
ARKX
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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