Cathie Wood-led Ark Investment Management on Tuesday lowered its exposure in Velo3D Inc (NYSE: VLD), its first sale in the 3D company after it went public last month via a merger with a special purpose acquisition company Jaws Spitfire Acquisition Corp.
The popular money managing firm sold 6,850 shares — estimated to be worth about $57,608 — in Velo3D, a 3D printer supplier for SpaceX, which is led by Tesla Inc (NASDAQ: TSLA) CEO Elon Musk.
Shares of Velo3D closed 3.11% lower at $8.41 a share on Tuesday.
Together, the two ETFs held 4.53 million shares, worth $39.3 million, in Velo3D ahead of Tuesday’s trade.
Ark also bought 138,195 shares — estimated to be worth $10.12 million — in Proto Labs Inc (NYSE: PRLB) on Tuesday. The 3D printing company’s stock closed 2.33% higher at $73.25 a share on Tuesday.
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