Cathie Woods sells $139 Milliion Tesla shares

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Cathie Wood’s exchange-traded funds have sold some of their Tesla Inc. shares in the past two days, taking advantage of the recent rally as the stock climbs for the third week in a row.

The ARK Innovation, ARK Next Generation Internet and ARK Autonomous Technology & Robotics ETFs sold over 180,000 shares on Wednesday and Thursday, according to daily trading updates.

At closing prices, that puts the total value at nearly $139 million.

The sales amount to around 3% of ARK’s Tesla stake and the firm still holds well over $4 billion, making it one of Tesla’s top 20 holders.

ARK regularly trims winning positions to reinvest the cash in new targets or existing high-conviction names.

Shares of the electric-vehicle maker have climbed over the past three weeks, adding about $75 million in market value as the company’s shipments of China-made cars to the local market rebounded last month and amid a broader stock market rally in August.

The stock was up 0.6% in premarket trading on Friday.

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