How Much Tesla Stock Did Cathie Wood's Ark Invest Buy Last Week?

Benzinga2022-05-30

ZINGER KEY POINTS

From mostly being a Tesla seller, Cathie Wood's Ark Invest began accumulating Tesla stock in the recent week.
The fund made cumulative purchases worth about $28 million of the stock in three trading sessions

Cathie Wood-owned Ark Invest began accumulating shares of Tesla, Inc. last week, reversing from being a seller for consecutive months.

What Happened: The string of stock sales reduced Tesla to being the second ranker in Ark's flagship fund – the ARK Innovation ETF(ARKK) in the week ending May 20.

Ark Invest holds Tesla in two of its ETFs – the ARKK and the ARK Next Generation Internet ETF(ARKW). The Wood-run fund snapped up Tesla shares in the first three trading sessions of the week. In the run-up to the current week, the stock had posted weekly declines for four straight weeks.

From the start of the year through May 20, Tesla stock had shed about 37%. Ark apparently began buying the dip. Notwithstanding the purchases, Tesla is still second in terms of ARKK's weighting, behind Zoom Video Communications, Inc.. The former's weighting is 8.63% compared to Zoom's 9.50%.

Tesla's weighting in the ARKW is 7.19% and the stock is ranked fourth behind Zoom Video, Roku, Inc. Grayscale Bitcoin.

Here're the details of Ark's Tesla purchases in the week ended May 27:

Cumulatively, Ark bought 43,282 Tesla shares through both the funds during the week, with the cumulative value of the purchases at $27.96 million.

Tesla stock closed Friday's session 7.33% higher at $759.63, according to Benzinga Pro.

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Comments

nicholas84
2022-06-01
nicholas84
Follow
Looyusooi
2022-05-31
Looyusooi
Ok
davidsoh
2022-05-31
davidsoh
As long got volume trade will be good 😃
SherryVJ
2022-05-31
SherryVJ
Ok
来人
2022-05-30
来人
Ok
CIG
2022-05-30
CIG
Seekingalpha mentioned a 3rd wave for Tesla dropping to 176.

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The Wood-run fund snapped up Tesla shares in the first three trading sessions of the week. In the run-up to the current week, the stock had posted weekly declines for four straight weeks.</p><p>From the start of the year through May 20, Tesla stock had shed about 37%. Ark apparently began buying the dip. Notwithstanding the purchases, Tesla is still second in terms of ARKK&#39;s weighting, behind <b>Zoom Video Communications, Inc.</b>. The former&#39;s weighting is 8.63% compared to Zoom&#39;s 9.50%.</p><p>Tesla&#39;s weighting in the ARKW is 7.19% and the stock is ranked fourth behind Zoom Video, <b>Roku, Inc.</b> <b>Grayscale Bitcoin</b>.</p><p><b>Here&#39;re the details of Ark&#39;s Tesla purchases in the week ended May 27:</b></p><p><img src=\"https://static.tigerbbs.com/fd3fb3d78c9959b68672c7ac6cab2728\" tg-width=\"1118\" tg-height=\"304\" referrerpolicy=\"no-referrer\"/></p><p>Cumulatively, Ark bought 43,282 Tesla shares through both the funds during the week, with the cumulative value of the purchases at $27.96 million.</p><p>Tesla stock closed Friday&#39;s session 7.33% higher at $759.63, according to Benzinga Pro.</p></body></html>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>How Much Tesla Stock Did Cathie Wood's Ark Invest Buy Last Week?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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long got volume trade will be good 😃","listText":"As long got volume trade will be good 😃","text":"As long got volume trade will be good 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