ARK Invest adds more Tesla shares, taking advantage of a rare opportunity. After Friday's purchase, ARK Innovation ETF owns 3.203 million Tesla shares worth $505.09 million.
ARK Invest, led by Cathie Wood, bought more Tesla shares in its second purchase this week. ARK Invest's flagship ARK Innovation ETF (ARKK) added 31,018 Tesla shares on Friday, the fund's daily trading report showed. The total purchase price is estimated at $4.66 million, based on a closing price of $150.23 Friday. ARK Invest has been loading the portfolio with Tesla stock since Wednesday.
On December 14, three of Wood's funds, ARK Innovation ETF, ARK Autonomous Technology & Robotics ETF, and ARK Next Generation Internet ETF bought nearly 75,000 shares of the company, worth more than $11 million. Of these, ARKK purchased 61,537 shares. Together with the Friday buy, ARKK bought 92,555 Tesla shares this week.
After Friday's purchases, ARKK now owns 3.203 million Tesla shares worth $505.09 million. The producer's shares are the second-largest ETF holding, accounting for 7.51% of the total portfolio.
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Eva Fox joined Tesmanian in 2019 to cover breaking news as an automotive journalist. The main topics that she covers are clean energy and electric vehicles. As a journalist, Eva is specialized in Tesla and topics related to the work and development of the company.