Press "Enter" to skip to content

Cathie Wood's Ark Sells Another $19.3M In Tesla As Stock Marches Upward

Cathie Wood-led Ark Invest on Monday further trimmed its position in the Palo Alto, California-based Tesla Inc (NASDAQ:TSLA) as the electric vehicle stock continued its upward march.

The popular investment management firm sold 24,361 shares — estimated to be worth $19.28 million— in Tesla via the Ark Autonomous Technology & Robotics ETF (BATS:ARKQ) and the Ark Next Generation Internet ETF (NYSE:ARKW).

Including the latest sale, the New York-based money managing firm has sold about $330 million worth of shares in six separate trades so far in September in the Elon Musk-led company.

The hedge fund is known to be bullish on Tesla and the electric vehicle company remains its largest stock holding. 

Ark held a total of about 4.07 million shares — worth $3.16 billion — in the electric vehicle company, as of Monday’s trades.

See Also: If Tesla Stock Hits This Price, Cathie Wood Could Sell Her Position

Tesla shares closed 2.19% higher at $791.36 a share on Monday. The company’s stock has jumped 7.56% so far this month and the year-to-date gains are about 8.44%.

The popular investment management firm has a large exposure in Tesla, a stock it predicts will hit the $3,000 mark at the end of 2025

Here are some of the other key trades for Ark on Monday:

  • Bought 298,878 shares — estimated to be worth about $13.38 million — in Robinhood Markets Inc (NASDAQ:HOOD) on the dip. The stock closed 0.33% at $44.76 a share on Monday.
  • Bought 76,875 shares — estimated to be worth $17.85 million — in Coinbase Global Inc (NASDAQ:COIN) on the day the stock closed 0.18% higher at $232.24 a share. 

This post was originally published on this site

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *