{"id":24035,"date":"2023-06-17T17:30:04","date_gmt":"2023-06-17T21:30:04","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/cathie-wood-sold-more-tesla-stock-she-might-not-be-done\/"},"modified":"2023-06-17T17:30:05","modified_gmt":"2023-06-17T21:30:05","slug":"cathie-wood-sold-more-tesla-stock-she-might-not-be-done","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=24035","title":{"rendered":"Cathie Wood Sold More Tesla Stock. She Might Not Be Done."},"content":{"rendered":"
\n
<\/p>\n
<\/p>\n<\/figure><\/div>\n

ARK Invest\u2019s ARK Innovation exchange-traded fund sold another 62,415 shares of Tesla worth about $16 million, the asset management company founded by Cathie Wood disclosed on Friday evening.<\/p>\n

The news of Friday\u2019s stock sale comes after ARK Invest offloaded about 393,000 shares of Tesla (ticker: TSLA) worth almost $100 million from the Innovation ETF (ARKK) and two other funds on Monday. <\/p>\n

\n

ARK didn\u2019t respond to a request for comment about Monday\u2019s sales, and the company didn\u2019t respond immediately to a request for comment over the holiday weekend about Friday\u2019s sales. <\/p>\n

But Wood might be selling because of Tesla\u2019s recent success: Shares are up almost 50% over the past month, crushing the 10% and 6% comparable, respective gains of the
\n Nasdaq Composite
\n and
\n S&P 500.<\/span>
\n Tesla stock\u2019s run has helped push the Innovation ETF up about 15% over the past month, too.<\/p>\n

It\u2019s unlikely that Wood is taking profits or that she believes Tesla shares are fully valued. ARK\u2019s published price target for Tesla stock is $2,000 by 2027, up almost eight-fold from Friday\u2019s close\u2014which works out to an average annual gain of about 66% between now and the middle of 2027. <\/p>\n

The problem is more likely structural: Tesla stock comprises more than 11% of the Innovation ETF\u2019s portfolio. Practically speaking,10% seems to be a rule of thumb for ARK: When things get above a certain percentage of the portfolio, the company trims. ARK may not be done selling, since Tesla\u2019s stock price performance has pushed it beyond 11% of the innovation ETF.<\/p>\n

While the Securities and Exchange Commission and the Internal Revenue Service have rules about how big one position should be in a diversified investment vehicle, those don\u2019t seem to be at play here.<\/p>\n

Diversification cuts volatility down and gives investors exposure to multiple stocks. ARK\u2019s Innovation ETF, however, is relatively concentrated. The top 10 positions in the fund, which only holds 30 stocks, account for about 62% of the total portfolio. <\/p>\n

Compare that to the
\n Vanguard Total Stock Market ETF
\n (VTI), which holds 3,883 stocks. Its top 10 holdings, including two classes of
\n Alphabet
\n (GOOGL) stock, account for about 28% of total assets. <\/p>\n

Still, there can be limits to any fund\u2019s concentration\u2014which means that great performance from a stock can generate selling pressure on its position in a fund.<\/p>\n

Write to Al Root at allen.root@dowjones.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

ARK Invest\u2019s ARK Innovation exchange-traded fund sold another 62,415 shares of Tesla worth about $16 million, the asset management company founded by Cathie Wood disclosed on Friday evening. The news of Friday\u2019s stock sale comes after ARK Invest offloaded about 393,000 shares of Tesla (ticker: TSLA) worth almost $100 million from the Innovation ETF (ARKK) […]<\/p>\n","protected":false},"author":1,"featured_media":24036,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-24035","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nCathie Wood Sold More Tesla Stock. She Might Not Be Done. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"ARK Invest\u2019s ARK Innovation exchange-traded fund sold another 62,415 shares of Tesla worth about $16 million, the asset management company founded by\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=24035\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cathie Wood Sold More Tesla Stock. She Might Not Be Done. | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"ARK Invest\u2019s ARK Innovation exchange-traded fund sold another 62,415 shares of Tesla worth about $16 million, the asset management company founded by\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=24035\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-17T21:30:04+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-17T21:30:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/06\/1687037404_social.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=24035#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=24035\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Cathie Wood Sold More Tesla Stock. She Might Not Be Done.\",\"datePublished\":\"2023-06-17T21:30:04+00:00\",\"dateModified\":\"2023-06-17T21:30:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=24035\"},\"wordCount\":405,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Markets\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=24035#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=24035\",\"url\":\"https:\/\/ifintechworld.com\/?p=24035\",\"name\":\"Cathie Wood Sold More Tesla Stock. She Might Not Be Done. | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-06-17T21:30:04+00:00\",\"dateModified\":\"2023-06-17T21:30:05+00:00\",\"description\":\"ARK Invest\u2019s ARK Innovation exchange-traded fund sold another 62,415 shares of Tesla worth about $16 million, the asset management company founded by\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=24035#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=24035\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=24035#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Cathie Wood Sold More Tesla Stock. She Might Not Be Done.\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Cathie Wood Sold More Tesla Stock. She Might Not Be Done. | iFintechWorld","description":"ARK Invest\u2019s ARK Innovation exchange-traded fund sold another 62,415 shares of Tesla worth about $16 million, the asset management company founded by","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=24035","og_locale":"en_US","og_type":"article","og_title":"Cathie Wood Sold More Tesla Stock. She Might Not Be Done. | iFintechWorld","og_description":"ARK Invest\u2019s ARK Innovation exchange-traded fund sold another 62,415 shares of Tesla worth about $16 million, the asset management company founded by","og_url":"https:\/\/ifintechworld.com\/?p=24035","og_site_name":"iFintechWorld","article_published_time":"2023-06-17T21:30:04+00:00","article_modified_time":"2023-06-17T21:30:05+00:00","og_image":[{"width":1280,"height":640,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/06\/1687037404_social.jpeg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=24035#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=24035"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Cathie Wood Sold More Tesla Stock. She Might Not Be Done.","datePublished":"2023-06-17T21:30:04+00:00","dateModified":"2023-06-17T21:30:05+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=24035"},"wordCount":405,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Markets"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=24035#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=24035","url":"https:\/\/ifintechworld.com\/?p=24035","name":"Cathie Wood Sold More Tesla Stock. She Might Not Be Done. | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-06-17T21:30:04+00:00","dateModified":"2023-06-17T21:30:05+00:00","description":"ARK Invest\u2019s ARK Innovation exchange-traded fund sold another 62,415 shares of Tesla worth about $16 million, the asset management company founded by","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=24035#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=24035"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=24035#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Cathie Wood Sold More Tesla Stock. She Might Not Be Done."}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/24035","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=24035"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/24035\/revisions"}],"predecessor-version":[{"id":24037,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/24035\/revisions\/24037"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/24036"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24035"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24035"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24035"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}