Cathie Wood-led Ark Invest on Tuesday further sold shares to book profit in $Tesla(TSLA.US)$, its largest single-day sell so far this month in the electric vehicle maker company's stock.
The popular money manager sold 340,618 shares in the $Palo Alto Networks(PANW.US)$, California-based company.
Tesla stock closed 1.74% lower at $777.56 on Tuesday. The company's stock has jumped 5.6% so far this month and the year-to-date gains are about 6.55%.
The popular investment management firm deployed the $ARK Next Generation Internet ETF(ARKW.US)$, the Ark Next Generation Internet ETF and the $ARK Innovation ETF(ARKK.US)$ to sell shares in Tesla.
The hedge fund is known to be bullish on Tesla and the electric vehicle company remains its largest stock holding. Ark predicts Tesla will hit the $3,000 mark at the end of 2025.
Including the latest sale, the New York-based money managing firm has sold about $594 million worth of shares so far in September in the Elon Musk-led company.
Ark held a total of about 4 million shares — worth $3.17 billion — in the electric vehicle company, ahead of Tuesday's trades.
Here are some of the other key trades for Ark on Tuesday:
Sold 68,883 shares in $Snap (SNAP.US)$, on the day shares of the company closed 7.07% lower at $74.42 a share.
Sold 1,994 shares in $Alphabet -CL C(GOOG.US)$$Alphabet -CL A(GOOGL.US)$. Shares of the company closed 3.76% lower at $2,723.68 on Tuesday.
Snapped 184,199 shares in $Coinbase Global(COIN.US)$, on the day shares closed 1.03% lower at $229.84.
Bought 205,707 shares in $Square(SQ.US)$, on the day shares of the Jack Dorsey-led company closed about 6% lower at $242.70.
Source: ARK Invest
Comment(2)
Seriously, is FUTU or Moomoo owned by Cathie Woods? Why is there a "news article" on CW or ARK every single day? How about the rest of the big fund managers? Can Moomoo cover actual news articles instead of doing publicity for CW?
Please dump the counter so I can buy cheap 😁
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