Cathie Wood’s ARK Innovation ETF ARKK has sold nearly $14 million worth of Tesla Inc. shares TSLA, the ETF’s first sale of the EV maker’s stock in September. But Tesla remains by far the ETF’s largest holding with a weight of 11.38% as of Sept. 14, while 2nd-place Roku Inc.’s ROKU weighting is 8.08%. The ETF said it sold 51,155 shares of Tesla on Wednesday, which based on the closing price of $271.30 would be valued at $13.88 million. That follows the sale of a total of 114,799 Tesla shares in August, which based on the Aug. 31 closing price of $258.08 would be valued at $29.63 million. Tesla’s stock rose 0.7% in premarket trading Thursday. The ETF also said it sold 178,672 shares of DraftKings Inc. DKNG, which would be valued at $5.49 million at Wednesday’s close. The digital sports entertainment and gaming company is the ETF’s 8th-largest holding with a weighting of 4.1%. Separately, the ETF said it bought 458,265 shares of Roblox Corp. shares RBLX, valued at $12.71 million at Wednesday’s close. The online gaming services company is the ETF’s 17th-largest holding with a 2.87% weighting. The ETF, which gained 0.9% in premarket trading, has run up 39.0% year to date through Wednesday, while the S&P 500 SPX has advanced 16.4%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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- : Cathie Wood’s ARK Innovation ETF sold nearly $14 million worth of Tesla’s stock - September 14, 2023