Cathie Wood, the CEO and CIO of Ark Invest, gestures as she speaks during the Bitcoin 2022 Conference at Miami Beach Convention Center on April 7, 2022 in Miami, Florida. Ark Invest is currently selling a large number of Tesla shares. (Photo by Marco Bello/Getty Images)
Cathie Wood’s Ark Invest continued its Tesla, Inc. (NASDAQ:TSLA) selling spree as the stock continued its upward trajectory.
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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