Cathie Wood’s ARK Funds Bought Robinhood and Exact Sciences, Sold Tesla.

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Robinhood’s logo of trading application on mobile phone

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AFP via Getty Images

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Kathy Wood’s ARK has sold a majority of its stake in Tesla,
And shares broke down at online broker Robinhood Markets.,
An email update from an investment management firm is shown.

ARK’s flagship fund, The ARK Innovation ETF (ARKK) dug up 56,975 shares in Elon Musk’s electric-vehicle giant, which is worth an estimated $63.5 million. ARK Fund sold a tranche worth more than $200 million last month. According to reports, Wood indicated in September that he was willing to sell his key fund’s stake in Tesla (ticker: TSLA).

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ARKK gave a total return of 152% last year, but is down by 13.43% so far, according to FactSet. Tesla makes up 10.28% of the fund, its largest holding.

Read this: Kathy Wood is testing ‘ARK’ on steroids. She wants to bet against the victims of disruption.

Tesla shares climbed 0.6% to $1,116 on Wednesday. The New York Stock Exchange and Nasdaq are both closed for Thanksgiving on Thursday.

The ARK daily disclosure for Wednesday also revealed that the firm has purchased 233,353 shares in Robinhood Markets (HOOD), valued at an estimated $6.5 million, through the Ark Fintech Innovation ETF (ARKF). It looks like Robinhood stock fell for seven days in a row, before climbing 1.2% on Wednesday.

The two funds, ARKK, and the ARK Genomic Revolution ETF (ARKG), bought a combined 237,754 shares in Exact Sciences (EXAS), whose main product is Cologard, a stool-based diagnostic test for colon cancer. The purchase was valued at $20.9 million — the stock rose 3.6% on Wednesday.

Wood’s ARK Invest did not respond to requests for comment.

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