Cathie Wood's Ark Pours $3.3M More Into This Chipmaker Amid AI Frenzy: Here Are Other Major Monday Trades
Cathie Wood's Ark Investment Management bulked up on a couple of stocks on Monday when the broader market staged a rebound amid hopes of seeing tame June inflation data.
Splurging On TSMC: Ark, through its Ark Autonomous Technology & Robotics ETF (CBOE: ARKQ) picked up 32,896 shares of Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM). The purchase is valued at $3.28 million at Monday's closing price of $99.77.
Taiwan-based TSMC is the world's biggest foundry and it is a major supplier to semiconductor and consumer electronics companies. The company reported Monday better-than-expected second-quarter sales, thanks to demand from AI tech companies.
Ark began a selling spree of TSMC in January 2021, coinciding with the Chinese clampdown on big tech stocks. The selling continued through late April 2021 and for a while Ark did not trade in TSMC. The firm resumed Ark buying in mid-June this year and has since then accumulated 175,828 shares.
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Other Major Trades: Ark also bought chunks of shares of PagerDuty, Inc. (NYSE:PD), a cloud-computing company specializing in a SaaS incident response platform for IT departments.
Ark Innovation ETF (NYSE:ARKK) and Ark Next Generation Internet ETF (NYSE:ARKW) bought 34,917 shares of PagerDuty valued at $788,425.
The firm also bought 169,682 shares of Adaptive Technologies, Inc. (NASDAQ:ADPT).
Ark's other transactions were disposals and the major shares sold on Monday include:
- Kratos Defense & Security Solutions, Inc. (NASDAQ:KTOS): 118,382 shares
- Surface Oncology, Inc. (NASDAQ:SURF): 379,277 shares
- DraftKings, Inc. (NASDAQ:DKNG): 67,691 shares
Related Link: Cathie Wood’s Ark Outshines S&P 500, Nasdaq In H1: Here Are The Major Trades It Made
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