Ark Invest, through its Ark Next Generation Internet ETF (NYSE:ARKW) sold 28,267 shares of Tesla on Wednesday, daily trade disclosure from the firm showed. The sale would have fetched Ark $7.99 million based on the stock’s closing price of $282.48 in the session.
Ark has been a seller of the stock through its strength in recent sessions. As recently as Monday, the firm sold $8.20 million worth of Tesla.
The Wood-run actively-managed ETFs have been a net buyer of Tesla this year, with the buy-sell tally at 1.193 billion to 933,946 shares.
Tesla is still a top holding of Ark’s key ETFs.
Tesla recently reported stellar second-quarter deliveries and analysts are confident of deliveries picking up further in the second half of the year. The sell-side is also optimistic about the company’s Cybertruck, which is due for launch later this year.
After bottoming at $152.37 in late April, the stock appears well on track to cross the psychological resistance of the $300 mark level in the coming days.
© 2023 Zenger News.com. Zenger News does not provide investment advice. All rights reserved.
Produced in association with Benzinga
Edited by Arnab Nandy
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