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Cathie Wood’s ARK Invest Trims Tesla (NASDAQ: TSLA) Holdings

September 14, 2023

Cathie Wood‘s ARK Invest has sold shares of EV major Tesla (NASDAQ: TSLA). The ARK Innovation ETF (ARKK) sold around 51,155 Tesla shares worth $14 million on Wednesday. However, the EV giant continues to remain ARKK’s largest holding with an 11.38% weighting in its portfolio, followed by Roku (ROKU) at 8.1%.

ARKK had sold a total of $29.6 million worth of Tesla shares in August. ARK’s Innovation ETF also sold 0.178 million shares of DraftKings (DKNG) valued at $5.49 million on Wednesday. DKNG has a 4.1% weighting in ARK’s Innovation ETF.

In another move, ARKK bought 0.458 million shares of Roblox (RBLX) worth $12.71 million.

The ARK Innovation ETF (ARKK) has performed remarkably well this year, gaining more than 40% year-to-date.

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Shrilekha Pethe
Shrilekha Pethe has been extensively covering and writing about the U.S. stock market since 2015, and has been writing stock news and analysis at TipRanks since 2021. Her core competency lies in analyzing the mining, banking, oil and gas, and technology sectors and all major stocks in those financial sectors. Shrilekha has also worked as an equity research analyst for a bulge-bracket client in investment banking, Credit Suisse, performing financial analysis of companies in the area of technology, media, and telecommunications. A postgraduate in finance from ICFAI Business School, Pune, the analyst-turned-writer is currently on her way to becoming a Certified Financial Planner. Shrilekha has also written for Kiplinger, a subsidiary of Future plc., which publishes research related to stocks, business forecasts and personal finance.