Cathie Wood Sells Another $7.3M In Warren Buffett-Backed BYD, Buys $6.3M In Uipath

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 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.

Ark still holds a total of 980,533 shares, worth $55.89 million, in BYD via the Autonomous Technology & Robotics ETF 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 TSLA, Wood’s investment management counts the Elon Musk-led company among its largest holdings. 

See Also: Buffett-Backed BYD Says Its NEV Sales Will Outdo Tesla China Numbers In June — Why That's Not Really A Fair Comparison

The New York-based investment firm snapped up 90,811 shares, estimated to be worth about $6.29 million, in UiPath Inc 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 PSTI and buys include Quantum-Si Inc QSI. 

Photo: Courtesy of BYD