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 ARKQ picked up 32,896 shares of Taiwan Semiconductor Manufacturing Company Limited 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.
See Also: Best Exchange Traded Funds
Other Major Trades: Ark also bought chunks of shares of PagerDuty, Inc. PD, a cloud-computing company specializing in a SaaS incident response platform for IT departments.
Ark Innovation ETF ARKK and Ark Next Generation Internet ETF ARKW bought 34,917 shares of PagerDuty valued at $788,425.
The firm also bought 169,682 shares of Adaptive Technologies, Inc. ADPT.
Ark's other transactions were disposals and the major shares sold on Monday include:
- Kratos Defense & Security Solutions, Inc. KTOS: 118,382 shares
- Surface Oncology, Inc. SURF: 379,277 shares
- DraftKings, Inc. DKNG: 67,691 shares
Related Link: Cathie Wood’s Ark Outshines S&P 500, Nasdaq In H1: Here Are The Major Trades It Made
Photo by Sundry Photography on Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
