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Cathie Wood-led Ark Investment Management on Wednesday shed 123,982 shares, estimated to be worth about $7.3 million, in the Chinese automaker BYD Co (OTC:BYDDY), its third straight sale in the company this week.
OTC shares of BYD, backed by Berkshire Hathaway Inc (NYSE: BRK-A) (NYSE: BRK-B) Chairman Warren Buffett, closed 3.6% higher at $59.07 on Wednesday.
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Ark still holds a total of 980,533 shares, worth $55.89 million, in BYD via the Autonomous Technology & Robotics ETF (BATS:ARKQ).
Including Wednesday’s sale, Ark has shed a total of 254,882 shares in BYD since the beginning of this week.
Buffett-led Berkshire Hathaway holds an 8.2% stake in BYD, as per the company’s letter to shareholders earlier this year.
Unlike Berkshire Hathaway, which does not hold any shares in Tesla Inc (NASDAQ:TSLA), Wood’s investment management counts the Elon Musk-led company among its largest holdings.
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The New York-based investment firm snapped up 90,811 shares, estimated to be worth about $6.29 million, in UiPath Inc (NYSE:PATH), also its third straight buy this week in the software automation company.
Shares of UiPath closed 0.86% lower at $69.25 on Wednesday.
See Also: Cathie Wood Loads Up Heavily On Debutant Uipath, Trims Tesla
The investment firm owns the shares of the company via all of its six active ETFs but deployed ARKQ on Wednesday to buy the shares of the company.
The products of the Bucharest, Romania-based software company are used by organizations to help efficiently automate their various business processes.
Some of the other key Ark Invest sells on Wednesday include Pluristem Therapeutics Inc (NASDAQ:PSTI) and buys include Quantum-Si Inc (NASDAQ:QSI).
Photo: Courtesy of BYD
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.