Cathie Wood’s Ark Investment Management on Tuesday sold 20,446 shares—estimated to be worth $22.3 million—in Tesla Inc.
Tesla shares closed 0.5 percent lower at $1,088.47 a share on Tuesday. The stock is up over 49 percent year-to-date though most of that surge has been seen in the past few months.
The St. Petersburg, Florida-based Ark Invest on Tuesday sold Tesla shares via the Ark Innovation ETF, the Ark Next Generation Internet ETF, and the Ark Autonomous Technology & Robotics ETF.
The popular money managing firm counts Tesla as its largest holding, a stock it predicts would hit the $3,000 mark by the end of 2025. Ark Invest owns shares worth billions in the company via its exchange-traded funds.
The three ETFs held 1.84 million shares worth about $2.01 billion in Tesla ahead of Tuesday’s trade.
Ark also bought 151,508 shares—estimated to be worth $4.13 million—in DraftKings Inc on the dip on Tuesday. The DKNG stock closed 3.12 percent lower at $27.32 a share on Tuesday.
By Rachit Vats
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