TLDR
- Cathie Wood’s ARK funds bought 93,374 Nvidia shares valued at $17.5 million on November 20
- This marked ARK’s first Nvidia purchase in over three months, since August 4
- Wood added nearly one million Archer Aviation shares and multiple cryptocurrency stocks to her portfolio
- ARK sold AMD shares and offloaded 932,161 Exact Sciences shares following Abbott’s buyout announcement
- The trades followed Nvidia’s earnings beat, though shares ended Thursday down 3.15%
Cathie Wood broke a three-month buying drought with Nvidia on November 20. Her flagship ARK Innovation ETF purchased 93,374 shares of the chipmaker worth $17.5 million.
The purchase represents ARK’s first acquisition of Nvidia stock since August 4, according to the fund’s daily trade disclosures. Wood’s timing came one day after Nvidia released its third quarter financial results.
The chip company’s earnings exceeded analyst forecasts. Initial trading saw Nvidia shares climb more than 5% following the report. The gains evaporated as the trading day progressed, with shares closing at $180.64, down 3.15%.
ARK Innovation ETF’s total Nvidia position now stands at 505,395 shares. The holding represents the fund’s 23rd largest position based on November 20 data.
Crypto and Aviation Sector Investments
Wood made several other purchases through her funds on Thursday. The ARK Innovation ETF acquired 971,423 shares of Archer Aviation, a company developing electric vertical takeoff and landing aircraft.
Cryptocurrency-related stocks received attention across multiple ARK funds. The Innovation ETF bought 363,081 shares of Bitmine Immersion Technologies. Additional purchases included 241,991 shares of Bullish and 134,650 shares of Circle Internet.
ARK Next Generation Internet ETF added 14,867 Bullish shares and 11,321 Bitmine shares. The ARK Fintech Innovation ETF contributed with purchases of 7,676 Bullish shares and 5,842 Bitmine shares.
The fund also bought 42,419 shares of Coinbase Global through the Innovation ETF.
Biotech Sector Expansion
Wood increased her biotechnology holdings through multiple transactions. ARK Innovation ETF purchased 496,586 shares of Recursion Pharmaceuticals on Thursday.
Pacific Biosciences of California attracted investment across two funds. ARK bought 290,617 shares through the Innovation and Genomic Revolution ETFs combined.
CRISPR Therapeutics saw purchases totaling 78,243 shares across the same two funds. Illumina received investments of 70,685 shares through the Innovation and Genomic Revolution ETFs.
These biotech additions spread across ARK’s specialized healthcare and technology-focused funds.
Stock Sales and Portfolio Trimming
Wood continued reducing her chip sector exposure beyond Nvidia. ARK sold 14,087 shares of Advanced Micro Devices across three funds on Thursday.
The largest sale involved Exact Sciences. ARK offloaded 932,161 shares of the cancer testing company through the Innovation, Next Generation Internet, and Fintech Innovation ETFs.
Abbott Laboratories announced a $21 billion acquisition of Exact Sciences on the same day. The deal aims to strengthen Abbott’s diagnostics division.
Nvidia’s stock decline came despite positive earnings results. Broader market weakness and changing Federal Reserve rate expectations contributed to selling pressure across technology stocks on Thursday.
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