Cathie Wood-led investment management firm Ark Invest on Friday sold 26,932 shares — estimated to be worth $30.62 million — in $Tesla(TSLA.US)$, booking more profit in the electric vehicle stock as it continues to rise after recently joining the $1 trillion market capitalization club.
Tesla shares, which have risen about 55.8% so far this year, closed 3.71% higher at $1,137.06 a share on Friday.
The St. Petersburg, Florida-based Ark Invest has been booking profit in the stock since early September when shares of the Elon Musk-led company started rising after months of sluggish performance.
Including the latest sale, the popular money managing firm has sold about $2 billion worth of shares in Tesla since the start of September.
Tesla continues to be Ark Invest's biggest bet across ETFs — a stock it predicts would hit the $3,000 mark by the end of 2025.
Ark Invest sold Tesla shares via the $ARK Innovation ETF(ARKK.US)$ and the $ARK Next Generation Internet ETF(ARKW.US)$ on Friday. The $ARK Autonomous Technology & Robotics ETF(ARKQ.US) too owns shares in Tesla.
Ahead of Friday's trade, the three ETFs together held a total of 2.78 million shares — estimated to be worth $3.16 billion — in the electric vehicle company.
Here are a few other key trades for Ark on Friday:
Sold 59,816 shares — estimated to be worth $19.89 million — in $Coinbase(COIN.US)$, whose stock closed 2.78% lower at $332.55 a share on Friday.
Bought 205,025 shares —estimated to be worth $47.99 million — in $Roku Inc(ROKU.US)$, whose stock closed 0.74% lower at $234.10 a share.
Source: ARK Invest
Comment(2)
wow
The ARK fund own Tesla share Keep selling for months…
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