Cathie Wood’s ARK Invest ETFs (exchange-traded funds) made several notable portfolio adjustments on Thursday, November 20, as revealed in daily fund disclosures. The prominent hedge fund manager bought shares of chip giant Nvidia (NVDA) following the semiconductor’s stellar third-quarter results. The other significant purchases made by Wood through ARK ETFs included shares of electric vertical takeoff and landing (eVTOL) aircraft maker Archer Aviation (ACHR), crypto stocks Bullish (BLSH), Circle Internet (CRCL), and Bitmine Immersion Technologies (BMNR), as well as some biotech plays.
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Meanwhile, ARK continued to trim its position in chipmaker Advanced Micro Devices (AMD). It also sold shares of Exact Sciences (EXAS) amid the news of its acquisition by Abbott Laboratories (ABT).
ARK Buys NVDA, Crypto, and Biotech Stocks
ARK made several significant additions on Thursday. It bought 93,374 shares of Nvidia, worth $17.5 million, via the ARK Innovation ETF (ARKK). Bloomberg noted that this marked the first purchase of Nvidia stock by any ARK fund since August 4. After rising by 5% earlier in the day, Nvidia stock closed lower by 3.2% on Thursday, as valuation concerns overshadowed the semiconductor company’s strong Q3 results and impressive guidance.
Furthermore, the ARKK ETF bought 971,423 shares of Archer Aviation, reinforcing its confidence in the eVTOL company. Turning to crypto plays, the ARKK ETF bought 363,081, 241,991, 134,650, and 42,419 shares of Bitmine Immersion, Bullish, Circle Internet, and Coinbase Global (COIN), respectively.
Meanwhile, ARK Next Generation Internet ETF (ARKW) purchased 14,867 shares of Bullish and 11,321 shares of Bitmine. Additionally, ARK Fintech Innovation ETF (ARKF) bought 7,676 shares of Bullish and 5,842 shares of Bitmine.
ARK also bought 496,586 shares of Recursion Pharmaceuticals (RXRX) through the ARKK ETF, 290,617 shares of Pacific Biosciences of California (PACB) via the ARKK and ARK Genomic Revolution (ARKG) ETFs, 78,243 shares of CRISPR Therapeutics (CRSP) through the ARKK and ARKG ETFs, and 70,685 shares of Illumina (ILMN) via the ARKK and ARKG ETFs.
Let’s look at Wall Street’s ratings for these stocks:
ARK Sells AMD, EXAS Stocks
Meanwhile, ARK continued to trim its stake in chipmaker AMD. It sold 14,087 shares of AMD via its ARKK, ARKW, and ARKF ETFs. Also, the ARKK and ARKG ETFs offloaded 932,161 shares of Exact Sciences.
On Thursday, medical devices maker Abbott announced that it would acquire cancer test maker Exact Sciences in a deal valued at $21 billion, to strengthen its diagnostics business.