Cathie Wood-led asset management company Ark Invest sold significant Tesla holdings on Tuesday, despite the stock reaching eight-month highs. Ark Invest offloaded 31,500 Tesla shares worth $8.6 million.

The liquidation by the investment firm came a day before the meeting between Indian Prime Minister Narendra Modi and Tesla CEO Elon Musk to discuss the company’s plans to invest in India. Musk has been considering opening new Tesla assembly plants in China and India.

Yesterday, Tesla stock finished nearly 5.46% lower, trading at $259.46. Ark Investment has been on a buying and selling binge as it continues to reap huge gains from its holdings in Tesla. Ark bought heavily last year when Tesla shares were down.

Although Cathie Wood has been a vocal advocate for Tesla for years, claiming the electric vehicle manufacturer will become a trillion-dollar business soon, this is the second time her firm has sold a significant stake in Tesla this year. Earlier on June 16, the company sold 73,113 shares of Tesla for around $19.05 million.