(ARKK), (ARKQ) – Cathie Wood Sells Another $61.6 Million in Tesla and Continues to Turn a Profit

At Cathie Wood’s Ark Investment Management On Monday, sold even more shares of Tesla Inc (NASDAQ: TSLA), making profits in the electric vehicle stock since early September, when the company’s shares began a rally.

The popular fund manager sold 56,295 shares valued at $61.6 million at Monday’s close in shares of the electric vehicle company run by Elon Musk.

Shares of Tesla closed up 2.5% at $1,093.9 per share on Monday. The stock is up around 50% this year, although most of that increase has been seen in the past few months.

See also: Cathie Wood continues to make profits in Tesla and loads another $11.8 million into this Chinese electric vehicle stock

St. Petersburg, Fla.-based Ark Invest sold shares on Monday through the Ark Innovation ETF (NYSE: ARKK), the Ark Next Generation Internet ETF (NYSE: ARKW), and the Ark Autonomous and Robotics Technology ETF (BATS: ARKQ).

The fund management company counts Tesla as its largest holding, a stock it predicts will hit the $3,000 mark by the end of 2025, and holds shares worth billions in the company through its exchange-traded funds. .

Ark Invest held 1.9 million shares worth about $2.03 billion in Tesla before Monday’s transaction.

Ark Invest published a long list of daily transactions on Monday showing that the investment company had sold a lot of shares. The daily reveal is accompanied by a disclosure that all transactions were made for the “purpose of raising funds for the 2021 ETF annual distribution” and that fundraising activity was complete.

Ark Invest on Monday sold shares of about 68 companies valued at $227.6 million (according to Benzinga calculations) that it holds through the five active exchange-traded funds.

Some of the popular trade names include shares in Coinbase Global Inc. (NASDAQ: COIN), Twitter Inc. (NYSE: TWTR), and Zoom Video Communications Inc (NASDAQ: ZM).

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