Cathy Wood's Ark Investment Company further reduced its stake in Tesla, Inc. on Monday.Shares, taking advantage of the company's rising share price to cash in more money.
Wood's two funds, Ark Automation Technology and Robot ETF and Ark's next-generation Internet ETF--, sold 24361 shares of Tesla, Inc. on Monday, worth about $19.28 million at the closing price.
Tesla, Inc. 's shares rose 2.19% to close at $791.36 on Monday.
Including this sale, Ark Investment has reduced its stake in Tesla, Inc. seven times this month, cashing out a total of about $330 million.
Wood's three funds-Ark Automation Technology and Robot ETF, Ark Innovation ETF and Ark next-generation Internet ETF---all regard Tesla, Inc. as the largest stock. At present, the three funds still hold more than 4.05 million shares of Tesla, Inc., worth about $3.2 billion.
At an investment conference last week, Mr Wood reiterated her firm bullish position on Tesla, Inc. and joked that she would leave if the stock reached her five-year target price of $3000 next year.