Cathie Wood sells $22.8 million of hot stock near all-time highs originally appeared on TheStreet.

Cathie Wood has long been aggressive in hunting tech stocks that she believes will have a “disruptive” impact on the future world. However, she sometimes sells a stock when it is high to secure gains.

In the past week, the head of Ark Investment Management sold a popular AI stock that has surged nearly 70% year-to-date.

💵💰Don't miss the move: Subscribe to TheStreet's free daily newsletter 💰💵

Cathie Wood’s investments have had a volatile ride this year, swinging from strong gains to sharp losses, and now back to outperforming the broader market.

In January and February, the Ark funds rallied as investors bet on the Trump administration's potential deregulation that could benefit Wood’s tech bets. But the funds stumbled in the following weeks, underperforming sharply as several of its top holdings —especially Tesla, its largest position — declined amid macroeconomic and trade policy uncertainties.

Now, the fund is regaining momentum. As of June 6, the flagship Ark Innovation ETF  (ARKK)  is up 6.11% year-to-date, outpacing the S&P 500’s 2.02% gain.

Wood gained a remarkable 153% in 2020, which helped build her reputation and attract loyal investors. Still, her long-term performance has made many others skeptical of her aggressive style.

As of June 6, Ark Innovation ETF, with $5 billion under management, has delivered a five-year annualized return of negative 0.5%. In comparison, the S&P 500 has an annualized return of 15.18% over the same period.

Wood’s investment strategy is straightforward: Her Ark ETFs typically buy shares in emerging high-tech companies in fields such as artificial intelligence, blockchain, biomedical technology and robotics.

Wood says these companies have the potential to reshape industries, but their volatility leads to major fluctuations in Ark funds' values.

Related: Cathie Wood's net worth: The Ark Invest CEO's wealth & income

The Ark Innovation ETF wiped out $7 billion in investor wealth over the 10 years ending in 2024, according to an analysis by Morningstar’s analyst Amy Arnott. That made it the third-biggest wealth destroyer among mutual funds and ETFs in Arnott’s ranking.

Wood said the U.S. is coming out of a three-year “rolling recession” and heading into a productivity-led recovery that could trigger a broader bull market.

In a letter to investors published on April 30, she dismissed predictions of a recession dragging into 2026, as she expects "more clarity on tariffs, taxes, regulations, and interest rates over the next three to six months."