{"id":69590,"date":"2023-10-06T16:39:57","date_gmt":"2023-10-06T20:39:57","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/cathie-woods-etfs-sold-more-than-25-million-worth-of-tesla-stock\/"},"modified":"2023-10-06T16:40:02","modified_gmt":"2023-10-06T20:40:02","slug":"cathie-woods-etfs-sold-more-than-25-million-worth-of-tesla-stock","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=69590","title":{"rendered":"Cathie Wood\u2019s ETFs sold more than $25 million worth of Tesla stock"},"content":{"rendered":"
\n

Cathie Wood\u2019s Ark Invest exchange-traded funds trimmed their stakes in Tesla Inc.\u2019s stock by a total of more than $25 million, as part of a rebalancing that left the electric vehicle giant among the ETFs\u2019 largest holdings.<\/p>\n

The high-profile investor\u2019s ARK Innovation ETF
\n ARKK,<\/span>
\n which invests in \u201cdisruptive innovation\u201d companies, disclosed that it sold 88,531 shares of Tesla
\n TSLA,
\n +0.18%<\/bg-quote>
\n on Wednesday, which at Wednesday\u2019s closing price of $261.16 would be valued at $23.1 million.<\/p>\n

\n

The marked the first sales of Tesla\u2019s stock by the ETF in October, after it sold 235,676 Tesla shares in September. Based on the Sept. 29 closing price of $250.22, those shares would be valued at about $59 million.<\/p>\n

Tesla\u2019s stock rose 0.4% in afternoon trading on Thursday, after climbing 5.9% on Wednesday.<\/p>\n

In addition, the ARK Autonomous Tech & Robotics ETF
\n ARKQ
\n sold 1,883 Tesla shares, which would be valued at just under $500,000, and the ARK Next Generation Internet ETF
\n ARKW
\n sold 7,185 shares, which would be valued at $1.9 billion.<\/p>\n

That brings the value of the total Tesla shares sold by the ARK ETFs to about $25.5 million.<\/p>\n

Still, Tesla remains with ARK Innovation ETF\u2019s largest holding with an 11.3% weighting and market value of $757.6 million as of Thursday morning, the ETF disclosed.<\/p>\n

The stock is also the largest holding of the ARK Autonomous Tech & Robotics ETF with a 14.6% weighting and is the fourth-largest holding of the ARK Next Generation Internet ETF with a 6.8% weighting.<\/p>\n

Investment funds will often sell some shares of large holdings, not necessarily to cut their stakes in those holdings, but to maintain a certain weighting as the prices of the stocks rise.<\/p>\n

Tesla\u2019s stock has gained 4.8% so far in October, after falling 3.1% in September.<\/p>\n

Although the stock has still more than doubled year to date, it has corrected more than 11% from its July peak amid some concerns over profitability, as deliveries have disappointed even as the company lowered prices amid increasing competition. <\/p>\n

Meanwhile, the ARK Innovation ETF has advanced 23.9% and the S&P 500 index
\n SPX
\n has gained 11.1%.<\/p>\n<\/p><\/div>\n<\/div>\n

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

Cathie Wood\u2019s Ark Invest exchange-traded funds trimmed their stakes in Tesla Inc.\u2019s stock by a total of more than $25 million, as part of a rebalancing that left the electric vehicle giant among the ETFs\u2019 largest holdings. The high-profile investor\u2019s ARK Innovation ETF ARKK, which invests in \u201cdisruptive innovation\u201d companies, disclosed that it sold 88,531 […]<\/p>\n","protected":false},"author":1,"featured_media":69591,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-69590","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nCathie Wood\u2019s ETFs sold more than $25 million worth of Tesla stock | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Cathie Wood\u2019s Ark Invest exchange-traded funds trimmed their stakes in Tesla Inc.\u2019s stock by a total of more than $25 million, as part of a rebalancing\" \/>\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=69590\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cathie Wood\u2019s ETFs sold more than $25 million worth of Tesla stock | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Cathie Wood\u2019s Ark Invest exchange-traded funds trimmed their stakes in Tesla Inc.\u2019s stock by a total of more than $25 million, as part of a rebalancing\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=69590\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-06T20:39:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-06T20:40:02+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/10\/1696624799_social.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"639\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\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=69590#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=69590\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Cathie Wood\u2019s ETFs sold more than $25 million worth of Tesla stock\",\"datePublished\":\"2023-10-06T20:39:57+00:00\",\"dateModified\":\"2023-10-06T20:40:02+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=69590\"},\"wordCount\":350,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Investing\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=69590#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=69590\",\"url\":\"https:\/\/ifintechworld.com\/?p=69590\",\"name\":\"Cathie Wood\u2019s ETFs sold more than $25 million worth of Tesla stock | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-10-06T20:39:57+00:00\",\"dateModified\":\"2023-10-06T20:40:02+00:00\",\"description\":\"Cathie Wood\u2019s Ark Invest exchange-traded funds trimmed their stakes in Tesla Inc.\u2019s stock by a total of more than $25 million, as part of a rebalancing\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=69590#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=69590\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=69590#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Cathie Wood\u2019s ETFs sold more than $25 million worth of Tesla stock\"}]},{\"@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\u2019s ETFs sold more than $25 million worth of Tesla stock | iFintechWorld","description":"Cathie Wood\u2019s Ark Invest exchange-traded funds trimmed their stakes in Tesla Inc.\u2019s stock by a total of more than $25 million, as part of a rebalancing","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=69590","og_locale":"en_US","og_type":"article","og_title":"Cathie Wood\u2019s ETFs sold more than $25 million worth of Tesla stock | iFintechWorld","og_description":"Cathie Wood\u2019s Ark Invest exchange-traded funds trimmed their stakes in Tesla Inc.\u2019s stock by a total of more than $25 million, as part of a rebalancing","og_url":"https:\/\/ifintechworld.com\/?p=69590","og_site_name":"iFintechWorld","article_published_time":"2023-10-06T20:39:57+00:00","article_modified_time":"2023-10-06T20:40:02+00:00","og_image":[{"width":1280,"height":639,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/10\/1696624799_social.png","type":"image\/png"}],"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=69590#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=69590"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Cathie Wood\u2019s ETFs sold more than $25 million worth of Tesla stock","datePublished":"2023-10-06T20:39:57+00:00","dateModified":"2023-10-06T20:40:02+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=69590"},"wordCount":350,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Investing"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=69590#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=69590","url":"https:\/\/ifintechworld.com\/?p=69590","name":"Cathie Wood\u2019s ETFs sold more than $25 million worth of Tesla stock | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-10-06T20:39:57+00:00","dateModified":"2023-10-06T20:40:02+00:00","description":"Cathie Wood\u2019s Ark Invest exchange-traded funds trimmed their stakes in Tesla Inc.\u2019s stock by a total of more than $25 million, as part of a rebalancing","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=69590#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=69590"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=69590#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Cathie Wood\u2019s ETFs sold more than $25 million worth of Tesla stock"}]},{"@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\/69590","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=69590"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/69590\/revisions"}],"predecessor-version":[{"id":69592,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/69590\/revisions\/69592"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/69591"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=69590"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=69590"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=69590"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}