Wooden Sister Cathy Wood's Ark Investment Company slashed its Twitter stake again on Tuesday, selling 114576 shares, worth about $5.28 million at its closing price.

Twitter shares fell 4.7% to $46.16 on Tuesday, up 8.2% so far this year.

Ark has been reducing its stake in Twitter this year, just a few months after the company invested heavily in the social media but began reducing its exposure before the company reported quarterly results in February.

Wood owns shares in Twitter through his two funds, Ark next-generation Internet ETF and Ark Financial Technology Innovation ETF. The two funds still hold about 1 million Twitter shares after Tuesday's trading, and the latest sale reduced Ark's exposure to Twitter by about 10 per cent.

At the beginning of 2022, Wood's fund held about 15.4 million Twitter shares.