Cathie Wood’s ARK Investment unloaded some shares of Tesla Inc. and Nvidia Inc. across several funds Monday, new disclosures showed.
ARK sold a combined 393,000 shares of Tesla
worth $92 million based on Monday’s closing levels. The sales primarily came from the ARK Innovation ETF
which dumped nearly 325,000 shares Monday, according to ARK’s daily trade disclosures posted to its website. Tesla represented about 1% of that fund after the sale.
The ARK Autonomous Technology & Robotics ETF
sold just over 31,000 Tesla shares, while the ARK Next Generation Internet ETF
sold about 37,000. Tesla constituted upwards of 0.7% of both funds after the stock sales.
The sales came after Tesla’s shares rallied for 12 straight sessions, marking a new record for the company. The stock has more than doubled so far in 2023.
Wood’s investment arm also further trimmed its Nvidia
position within two of its funds. The ARK Next Generation Internet ETF dumped about 13,000 Nvidia shares, while the ARK Autonomous Technology & Robotics ETF sold roughly 6,800. That amounts to just under $25 million, combined, based on Monday closing prices.
Nvidia represented 0.26% of the Autonomous Technology & Robotics ETF after the sales, along with 0.40% of the Next Generation Internet ETF.
Shares of Nvidia have surged 39% over the past month, and they’re up 170% so far this year.
The Taiwan Semi purchase, concentrated in the Autonomous Technology & Robotics ETF, amounted to about $10 million based on Monday’s close, while the Meta purchase, split between two funds, was worth about $47 million combined based on those levels.