Cathie Wood‘s ARK Investment seems to be bullish about the semiconductor sector as the ARK Autonomous Technology & Robotics ETF (ARKQ) loaded up on 18,583 shares of Advanced Micro Devices (AMD) valued at around $2 million based on the stock’s closing price of $107.51. In addition, ARK also bought 18,106 shares of Taiwan Semiconductor Mfg. (TSM) valued at approximately $2 million with 4,117 shares added to the ARKQ and the rest added to the ARK Next Generation Internet ETF (ARKW).
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Cathie Wood continued to be bearish on TSLA even as the EV major has got a slew of downgrades by Wall Street analysts recently. ARK ETFs have unloaded more than 500,000 shares of Tesla so far in June. On Monday, ARKQ dumped 5,196 shares of Tesla while ARKW unloaded 3,058 shares, all worth $2 million based on the stock’s closing price of $241.05.
ARK’s Innovation ETF (ARKK) has surged more than 40% over the past six months.