Tesla’s (TSLA) 3-for-1 stock split took effect late on Wednesday.
Shares of the electric vehicle company have climbed 28% since June 10, when Tesla announced plans to split its stock. Shareholders approved the split at their annual split shareholders meeting on August 4.
Tesla has split its shares 3 to 1, meaning that shareholders of a single share as of August 17 will receive two additional shares for a total of three. Each of the three shares will be valued at a third of the price of an investor’s original share, leaving the total value of a shareholder’s stock unchanged.
Investors can gain meaningful exposure to Tesla with the ARK Autonomous Technology & Robotics ETF (ARKQ), which weights Tesla at 11.46%, and the ARK Next Generation Internet ETF (ARKW), which weights Tesla at 9.41%, as of August 25. Tesla is the top holding in both funds.
ARKQ invests in companies focused on and expected to substantially benefit from the development of new products or services, technological improvements, and advancements in scientific research related to, among other things, energy, automation and manufacturing, materials, artificial intelligence, and transportation. These companies may develop, produce, or enable autonomous transportation, robotics and automation, 3D printing, energy storage, and space exploration.
Companies within ARKW are focused on and expected to benefit from shifting the bases of technology infrastructure to the cloud, enabling mobile, new, and local services, such as companies that rely on or benefit from the increased use of shared technology, infrastructure and services, internet-based products and services, new payment methods, big data, the internet of things, and social distribution and media. These companies may develop, produce, or enable cloud computing and cyber security, e-commerce, big data, artificial intelligence, mobile technology and internet of things, social platforms, blockchain, and P2P.
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