Cathie Wood’s ARK Innovation ETF, known by the ticker symbol ARKK, has recently made a significant move by selling nearly $14 million worth of Tesla Inc. shares (TSLA). This marks the first sale of the electric vehicle maker’s stock by the popular ETF in September.
Despite the sale, Tesla remains the largest holding within the ARK Innovation ETF, with a weight of 11.38% as of September 14. In second place is Roku Inc. (ROKU) with a weighting of 8.08%.
On Wednesday, the ETF sold a total of 51,155 shares of Tesla stock, which, based on the closing price of $271.30, would be valued at $13.88 million. This follows the sale of 114,799 Tesla shares in August, valued at $29.63 million based on the closing price of $258.08 on August 31.
In addition to the Tesla sale, the ARK Innovation ETF also sold 178,672 shares of DraftKings Inc. (DKNG), valued at $5.49 million at Wednesday’s close. DraftKings is the ETF’s eighth-largest holding, with a weighting of 4.1%.
On the other hand, the ETF purchased 458,265 shares of Roblox Corp. (RBLX) at a value of $12.71 million at Wednesday’s close. Roblox, an online gaming services company, is currently the ETF’s 17th-largest holding with a 2.87% weighting.
Overall, the Cathie Wood’s ARK Innovation ETF has performed well, gaining 0.9% in premarket trading and achieving a year-to-date increase of 39.0% through Wednesday. In comparison, the S&P 500 has advanced 16.4% over the same period.
