Ark Invest adds $124 million worth Tesla shares

24/02/2021 3:09:08 PM | Source: Reuters

Ark Invest adds $124 million worth Tesla shares

News By Tags | #572 #591

LONDON - Cathie Wood's Ark Invest funds added a further $124 million stake in Tesla on Tuesday as the shares closed below $700 for the first time in 2021, according to the fund's website.

The high-flying $26.6 billion ARK Innovation ETF, one of the best performing exchange traded funds in 2020, fell sharply this week along with Tesla, which makes up about 10% of the fund, as momentum stocks pulled back sharply.

The fund has large positions in so-called momentum stocks, which tend to attract investors based on thematic trends rather than fundamentals or valuation.

Disclaimer: The content of this article is for informational purposes only and should not be considered financial or investment advice. Investments in financial markets are subject to market risks, and past performance is not indicative of future results. Readers are strongly advised to consult a licensed financial expert or advisor for tailored advice before making any investment decisions. The data and information presented in this article may not be accurate, comprehensive, or up-to-date. Readers should not rely solely on the content of this article for any current or future financial references. To Read Complete Disclaimer Click Here

IGI Logo

Ark Invest adds $124 million worth Tesla shares

Top News

Tag News

More News