Cathie Wood’s ARK Investment Management, known for its prominent presence in the investment world, has yet again offloaded a significant number of Tesla shares, continuing a trend that has persisted for several months.
The ARK Innovation ETF (ARKK) divested 72,631 Tesla (TSLA) shares on Thursday, while the ARK Autonomous Technology & Robotics ETF (ARKQ) sold 3,794 shares.
According to trade disclosures published by ARK on their official website, the collective worth of these sales stood at approximately $18.8 million, given Tesla’s closing price of $245.34 on that day.
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This ongoing trend of divesting Tesla shares reflects ARK funds’ strategy of periodically adjusting their holdings, a practice that has been evident throughout the year, particularly in the months of June and July.
These recent trade disclosures also revealed that the ARK Autonomous Technology & Robotics ETF sold 2,487 Nvidia Corp. (NVDA) shares, contributing to a sales value of around $4.2 million based on Thursday’s closing price of $423.88.
Similarly, the ARK Genomic Revolution ETF (ARKG) liquidated 7,411 shares of Nvidia, amounting to a sale value of approximately $4.2 million based on the closing price of $423.88 on the same day.
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Among other transactions, the ARK Autonomous Technology & Robotics ETF executed the sale of 8,153 Alphabet Inc. (GOOGL) shares and the ARK Space Exploration & Innovation ETF (ARKX) sold 2,286 shares.
The combined value of these sales reached around $1.4 million, taking into account Alphabet’s Class C shares closing at $130.21 on Thursday.
The ARK Investment Management’s continued adjustments to its portfolio holdings exemplify the fund’s proactive approach to managing its investments in response to market dynamics and evolving trends.
As Cathie Wood’s firm continues to make calculated investment decisions, the financial world remains attentive to the actions and strategies of ARK funds.
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