New disclosures reveal that Cathie Wood‘s ARK Investment sold some shares of Tesla Inc. and Nvidia Inc. across various funds, directing the firm’s attention to Meta. Based on Monday’s closing prices, ARK sold 393,000 shares of Tesla in total, for a total value of $92 million. The ARK Innovation ETF, which sold over 325,000 shares on Monday, was the main source of the transactions. After the sale, the electric car giant makes up around 1% of that fund.
Moreover, over 31,000 Tesla shares were sold by the ARK Autonomous Technology & Robotics ETF, and roughly 37,000 by the ARK Next Generation Internet ETF. After the stock sales, Tesla made up more than 0.7% of both funds.
The sales followed a 12-session streak of gains in the automaker’s stock, which set a new high for the business. By this point in 2023, the stock had more than doubled.
Apart from Tesla, how many Nvidia shares did the firm sell?
Additionally, the investment arm of Wood’s firm reduced its holdings of Nvidia in two of its funds. About 13,000 Nvidia shares were sold by the ARK Next Generation Internet ETF, and about 6,800 by the ARK Autonomous Technology & Robotics ETF. Based on Monday’s closing pricing, that comes to just about $25 million in total.
Following the sales, Nvidia held 0.26% of the Autonomous Technology & Robotics ETF and 0.40% of the Next Generation Internet ETF. Nvidia stock has increased 39% during the past month, and it has increased 170% so far this year.
In addition to buying shares in Meta Platforms Inc. on Monday, Ark disclosed purchases of Taiwan Semiconductor Manufacturing Co. Ltd. Based on Monday’s closing, the purchase of Taiwan Semiconductor Manufacturing Co. Ltd., concentrated in the Autonomous Technology & Robotics ETF, was worth around $10 million. Meanwhile, the purchase of Meta, divided across two funds, was valued at about $47 million overall.