Cathie Wood Watch: Ark Buys More Tesla and Trims Nvidia Stake

Famed investor Cathie Wood, chief executive of Ark Investment Management, on Jan. 6 trimmed her position in $NVIDIA(NVDA.US)$ while continuing to amass $Tesla(TSLA.US)$ shares.
Ark funds had bought more than 700,000 shares of the graphics-chip giant in May and August combined. But on Jan. 6, $ARK Innovation ETF(ARKK.US)$ sold 31,758 Nvidia shares, valued at $4.7 million as of that day’s close. Nvidia has dropped 42% in the past year amid the semiconductor industry’s slump.
As for Tesla, Wood in recent weeks has been snatching up shares as the stock plunged amid concern about production and demand. Investors also aren’t thrilled that Chief Executive Elon Musk has been distracted with his recent purchase, the microblogging platform Twitter.
Tesla has dropped by two-thirds (66%) over the past year. Ark funds bought 58,044 shares Jan. 6, valued at $6.6 million as of that day’s close. $Nasdaq Composite Index(.IXIC.US)$ $Zoom Video Communications(ZM.US)$ $ProShares UltraPro Short QQQ ETF(SQQQ.US)$ $Tuttle Capital Short Innovation ETF(SARK.US)$