Cathie Sells Another $22M Worth Of Shares In Tesla On Tuesday

Cathie Wood’s Ark Investment Management on Tuesday sold 20,446 shares — estimated to be worth $22.3 million — in Tesla Inc TSLA.

Tesla shares closed 0.5% lower at $1,088.47 a share on Tuesday. The stock is up over 49% year-to-date though most of that surge has been seen in the past few months.

The St. Petersburg, Florida-based Ark Invest on Tuesday sold Tesla shares via the Ark Innovation ETF ARKK, the Ark Next Generation Internet ETF ARKW and the Ark Autonomous Technology & Robotics ETF ARKQ.

The popular money managing firm counts Tesla as its largest holding, a stock it predicts would hit the $3,000 mark by the end of 2025. Ark Invest owns shares worth billions in the company via its exchange-traded funds.

See Also: Cathie Wood Sells Another $61.6M In Tesla, Continues Profit Booking

The three ETFs held 1.84 million shares worth about $2.01 billion in Tesla ahead of Tuesday’s trade.

Ark also bought 151,508 shares — estimated to be worth $4.13 million – in DraftKings Inc DKNG on the dip on Tuesday. The DKNG stock closed 3.12% lower at $27.32 a share on Tuesday.