TECH - Cathie Wood's Ark Invest Bucks Trend Trims 2 Major Chip Stocks Ahead Of Q4 Results: Profit-Taking Or Portfolio Shift? | Benzinga
Semiconductor stocks have experienced a resurgence in recent sessions, rebounding from a slow start to the year as investors anticipate robust quarterly results. In a surprising move, money manager Cathie Wood‘s Ark Investment Management trimmed positions in two major chip stocks on Monday.
What Happened:
The Ark Next Generation Internet ETF (NYSE:ARKW) reduced its holdings by 4,012 shares of Nvidia Corp. (NASDAQ:NVDA) and 24,458 shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) on Monday. The sales likely generated approximately $2.39 million and $4.11 million, respectively.
Nvidia closed Monday’s session up 0.27% at $596.54, while AMD experienced a 3.47% pullback, closing at $168.18, according to Benzinga Pro data.
Ark also ...