Cathie Wood’s ARK Investment has once again sold off Tesla shares, a trend that has persisted for several months. On Thursday, the ARK Innovation ETF (ARKK) sold 72,631 shares of Tesla, while the ARK Autonomous Technology & Robotics ETF (ARKQ) offloaded 3,794 shares. These sales amounted to a value of $18.8 million based on Tesla’s closing price of $245.34.
ARK funds have been consistently selling Tesla shares throughout the year, including in June and July.
Other Technology Stocks Sold by ARK ETFs
In addition to Tesla, ARK ETFs also sold shares of other prominent technology stocks. The Autonomous Technology & Robotics ETF sold 2,487 shares of Nvidia Corp., and the ARK Genomic Revolution ETF dumped 7,411 shares of the chip giant. These sales were valued at $4.2 million based on Thursday’s closing level of $423.88.
Furthermore, the Autonomous Technology & Robotics ETF sold 8,153 shares of Alphabet Inc., and the ARK Space Exploration & Innovation ETF sold 2,286 shares. The value of this sale was $1.4 million based on Alphabet’s Class C shares’ closing price of $130.21 on Thursday.
It appears that Cathie Wood’s ARK Investment is actively rebalancing its portfolio by reducing exposure to certain technology stocks, including Tesla, Nvidia, and Alphabet.
