Cathie Wood-led Ark Invest Investment Management added more Tesla Inc (NASDAQ: TSLA) shares to its portfolio on Tuesday, raising its exposure to the electric vehicle maker for the sixth time this month.
Ark Invest bought 300 shares, estimated to be worth $198,801, in Tesla on Tuesday.
Shares of the Elon Musk-led company closed 2.4% higher at $662.6 on Tuesday, and are down 44.7% this year, according to data from Benzinga Pro.
See Also: Tesla Finds A Buyer Again In Cathie Wood As Ark Loads Up $1.8M On Latest Dip
St. Petersburg, Florida-based Ark began buying shares in Tesla late last month when they plunged due to production issues in China and uncertainty over Musk’s $44 billion Twitter Inc (NYSE: TWTR) take-private bid.
The popular investment firm scooped up 45,003 shares in Tesla last month and has bought 18,683 shares in June so far.
A Tesla bull, Wood has forecast the EV stock will hit $4,600 by 2026.
Ark Invest owns shares in Tesla through three of its six actively traded exchange funds: Ark Innovation ETF (NYSE: ARKK), Ark Autonomous Technology & Robotics ETF (NYSE: ARKQ) and Ark Next Generation Internet ETF (NYSE: ARKW).
The three ETFs held 1.29 million shares worth $840.4 million in Tesla before Tuesday’s trade.
