On Tuesday, Cathie Wood-led Ark Invest made significant trades involving Advanced Micro Devices Inc (NASDAQ:AMD), Palantir Technologies Inc (NYSE:PLTR) and Moderna Inc (NASDAQ:MRNA). These trades reflect Ark’s strategic adjustments amidst market movements.
Ark bought 7,861 shares of AMD for ARK Next Generation Internet ETF (NYSE:ARKW), valued at $1.35 million. AMD holds a 33% share in the server CPU market and is preparing to launch next-gen processors and unveil a GPU roadmap. Palantir Technologies Inc was acquired by Ark Invest’s ARK Space Exploration & Innovation ETF (BATS:ARKX) with 9,773 shares worth $205,721. Palantir’s stock performance has been under scrutiny due to market conditions and investor sentiment.
On the same day, Ark Invest’s ARK Genomic Revolution ETF (BATS:ARKG) and ARK Innovation ETF (NYSE:ARKK) funds sold a combined total of 28,670 shares of Moderna at a closing price of $153.20, totaling approximately $4.4 million. This decision follows Moderna’s recent decline despite being one of the best-performing large-cap stocks last week.
Other key trades include selling shares of Unity Software Inc from ARKK, buying shares of UiPath Inc for ARKK, and selling stock of Nu Holdings Ltd from ARKW. Additionally, Ark Invest bought shares of Roblox Corp for ARKK.
In conclusion, these trades reflect Ark Invest’s strategic adjustments amidst market movements in the semiconductor, technology, and healthcare sectors.