Cathie Wood Trims Stake In Elon Musk-Led SpaceX's Supplier Velo3D As Stock Dips [Update]

Update: Ark Invest issued a correction late Wednesday, saying it had bought 6,850 shares in Velo3D on Tuesday. The trade was incorrectly marked as a sell in an earlier notification from the firm, which was the basis for this story.

Cathie Wood-led Ark Investment Managementon Tuesday lowered its exposure in Velo3D Inc (NYSE:VLD, its first sale in the 3D company after it went public last month via a merger with a special purpose acquisition company Jaws Spitfire Acquisition Corp.

The popular money managing firm sold 6,850 shares — estimated to be worth about $57,608 — in Velo3D, a 3D printer supplier for SpaceX, which is led by Tesla Inc TSLA CEO Elon Musk.

Shares of Velo3D closed 3.11% lower at $8.41 a share on Tuesday. 

See Also: Cathie Wood Piled Up Another $994K In This Company Linked With Elon Musk's SpaceX On Friday

The Ark Autonomous Technology & Robotics ETF ARKQ sold the shares in Velo3D on Tuesday. Besides ARKQ, the Ark Space Exploration & Innovation ETF ARKX also owns shares in Velo3D. 

Together, the two ETFs held 4.53 million shares, worth $39.3 million, in Velo3D ahead of Tuesday's trade.

Ark also bought 138,195 shares — estimated to be worth $10.12 million — in Proto Labs Inc PRLB on Tuesday. The 3D printing company's stock closed 2.33% higher at $73.25 a share on Tuesday.