Cathy Wood's Ark Investments further cut its holdings on WednesdayTeslaShares, 63,135 shares were sold, worth approximately $49.4 million.

This is the tenth time since September 8 that Wood's fund has reduced its Tesla shares. In total, it has sold more than 970,000 shares worth about US$768 million. This means she has sold over one-fifth of her holdings within a month.

Wood's three funds — Ark Automation Technology and Robotics ETF, Ark Innovation ETF, and Ark Next-Generation Internet ETF — all have Tesla as their biggest holdings. After Wednesday's sale, these funds still hold more than 3.38 million Tesla shares worth more than $2.6 billion.

Tesla shares rose 0.28% on Wednesday to close at $782.75.

Wood reiterated her firm bullish stance on Tesla at a recent investment conference and joked that if the stock could reach her 5-year target price of $3,000 next year, she would not hesitate to clear the market.

According to Ark Investments' daily trading data, the company bought 8.26 million shares of Ginkgo Bioworks on Wednesday, worth about $87.5 million. Two previous consecutive short reports said the bioengineering company was a “huge scam,” and its stock price was hit hard and closed down 11.6% to close at 10.59% on Wednesday.

Since Ginkgo Bioworks was listed on the NYSE last month, Ark Investments has been hoarding the company's shares. Following Wednesday's deal, its two funds collectively held 26 million Ginkgo shares worth around $312 million.