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Cathie Wood Trims Stake In Elon Musk-Led SpaceX's Supplier Velo3D As Stock Dips

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. 

See Also: Cathie Wood Piled Up Another $994K In This Company Linked With Elon Musk’s SpaceX On Friday

The Ark Autonomous Technology & Robotics ETF (BATS: ARKQ) sold the shares in Velo3D on Tuesday. Besides ARKQ, the Ark Space Exploration & Innovation ETF (BATS: ARKX) also owns shares in Velo3D. 

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.

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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