Tesla, Inc. TSLA The stock hit a low of $163.91 on March 13 and have been seeing some upward momentum since then.

Ark’s Back-to-Back Sale: Ark Invests Ark Innovation ETF ARKK And Ark Next Generation Internet ETF ARKW sold 119,151 and 11,547 shares of Tesla on Friday, the company’s daily trading information showed.

Friday’s disposals totaled 130,698 shares worth $24.98 million.

On Thursday, Ark’s ARKK and ARKW combined sold 139,000 shares worth $26.8 million. Wood’s company sold $51.78 million worth of Tesla stock this week.

Also read: Everything you need to know about Tesla stock

Ark has been a buyer of Tesla shares since the share price fell late last year. The last sale of the company before liquidation last week took place in early September 2022.

Tesla remains the top holding of Ark’s flagship fund, ARKK, with 10.54% of the portfolio. The stock has a 6.89% weighting in ARKW and is the fund’s fourth-largest holding.

Why it matters: Tesla is expected to report its first-quarter deliveries in April. Tesla bull and co-founder of the Future Fund Gary Black SHe expects help this week the company to exceed delivery expectations from the street and recommended buying the share decline.

Tesla closed Friday’s session at $190.41, down 0.94% Benzinga Pro data.

Continue reading: Tesla’s aggressive price cuts bite rivals, Lucid allies with Apple, Ford teases ‘revolutionary’ next-gen electric truck and more: this week’s biggest electric stories

Photo: Ark Invest