Cathie Wood-led Ark Invest further trimmed its $Tesla(TSLA.US)$ stake on Monday. The popular asset management firm sold 143,152 shares, estimated to be worth $111.87 million, in the Elon Musk-led company on Monday, its ninth such trade in Tesla since early September.
Including the latest sale, the New York-based money managing firm has sold about $719 million worth of shares in the Palo Alto, California-based company, beginning September.
The New York-based investment firm sold shares in Tesla via the $ARK Next Generation Internet ETF(ARKW.US)$, the $ARK Autonomous Technology & Robotics ETF(ARKQ.US)$ and the $ARK Innovation ETF(ARKK.US)$ on Monday.
Tesla shares, which have risen about 6% since Sept. 10, when Ark Invest began booking profit in the stock, closed 0.8% higher at $781.53 a share on Monday. On a YTD basis, Tesla shares have risen about 7.1% as of Monday’s close.
Wood’s firm holds large bets in Tesla, which it predicts will hit the $3,000 mark at the end of 2025.
Each of the three ETFs count Tesla as their largest exposure and held a total of 3.60 million shares — worth $2.79 billion — in the electric vehicle company, ahead of Monday’s trade.
Ark Invest continues to have over 10% exposure to Tesla in each of its three active exchange-traded funds.
Here are some of the other key trades for Ark on Monday:
Bought 167,251 shares — estimated to be worth $9.76 million — in $Twitter(TWTR.US)$, on the day shares of the Jack Dorsey-led social media company closed 5.79% lower at $58.39 a share.
Bought 54,625 shares — estimated to be worth $12.52 million — in $Coinbase Global(COIN.US)$. COIN shares closed 0.80% lower at $229.31 on Monday.