Cathie Wood’s ARK Invest Buys Nvidia Stock for First Time Since August

TLDR

• Cathie Wood’s ARK Invest bought 93,374 Nvidia shares worth $17.5 million on November 20, marking the first NVDA purchase since August 4
• ARK purchased nearly 1 million shares of Archer Aviation and multiple crypto stocks including Bullish, Circle Internet, and Bitmine Immersion Technologies
• The purchases came after Nvidia reported strong Q3 earnings, though the stock closed down 3.2% on Thursday
• ARK continued selling AMD shares and offloaded 932,161 shares of Exact Sciences following Abbott’s $21 billion acquisition announcement
• ARK also added biotech positions including Recursion Pharmaceuticals, Pacific Biosciences, CRISPR Therapeutics, and Illumina

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Cathie Wood’s ARK Invest made several portfolio changes on November 20, purchasing Nvidia shares for the first time in over three months. The move came one day after the chip company reported its third quarter earnings results.

ARK Innovation ETF bought 93,374 shares of Nvidia valued at $17.5 million. This marked the first purchase of Nvidia stock by any ARK fund since August 4, according to the fund’s daily trade disclosures.

NVIDIA Corporation, NVDA

The timing followed Nvidia’s quarterly earnings report, which beat analyst expectations. The stock initially rose more than 5% after the results were released. However, shares reversed course and closed down 3.15% at $180.64 on Thursday.

As of November 20, ARK Innovation ETF held 505,395 Nvidia shares. This represents the fund’s 23rd largest position.

ARK Adds Crypto and Aviation Stocks

Beyond Nvidia, ARK made other purchases on Thursday. The fund bought 971,423 shares of Archer Aviation, an electric vertical takeoff and landing aircraft maker.

ARK also increased its exposure to cryptocurrency-related stocks. The ARK Innovation ETF purchased 363,081 shares of Bitmine Immersion Technologies. It added 241,991 shares of Bullish and 134,650 shares of Circle Internet.

The ARK Next Generation Internet ETF bought 14,867 shares of Bullish and 11,321 shares of Bitmine. The ARK Fintech Innovation ETF purchased 7,676 shares of Bullish and 5,842 shares of Bitmine.

ARK also added several biotech positions. The fund bought 496,586 shares of Recursion Pharmaceuticals through ARK Innovation ETF.

It purchased 290,617 shares of Pacific Biosciences of California across multiple funds. The purchases included 78,243 shares of CRISPR Therapeutics and 70,685 shares of Illumina.

ARK Reduces AMD and Exact Sciences Holdings

On the selling side, ARK continued trimming its Advanced Micro Devices position. The fund sold 14,087 AMD shares across its ARK Innovation, ARK Next Generation Internet, and ARK Fintech Innovation ETFs.

ARK also made a large sale of Exact Sciences stock. The fund offloaded 932,161 shares across three ETFs on Thursday.

The Exact Sciences sale came on the same day Abbott Laboratories announced it would acquire the cancer test maker. The deal is valued at $21 billion and aims to strengthen Abbott’s diagnostics business.

Nvidia shares dropped 3.2% on Thursday despite the strong earnings report. Broader market declines and changing expectations about a December Federal Reserve rate cut contributed to the stock’s reversal.

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