Cathie Wood’s Ark Invest Returns To Nvidia With $17M Buy

TLDR

• ARK Innovation ETF purchased 93,374 Nvidia shares on November 20, the fund’s first buy since early August
• Wood’s funds added crypto exposure through Bullish, Circle Internet, and Bitmine Immersion Technologies purchases
• ARK bought 971,423 Archer Aviation shares and increased biotech holdings across multiple companies
• The fund sold 14,087 AMD shares and dumped 932,161 Exact Sciences shares after Abbott’s acquisition announcement
• Nvidia closed down 3.15% despite strong earnings as market conditions shifted

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Cathie Wood’s ARK Invest returned to Nvidia on November 20 after a three-month absence from the chipmaker. The ARK Innovation ETF acquired 93,374 shares worth approximately $17.5 million.

According to ARK’s daily trade disclosures, this purchase marked the first time any ARK fund bought Nvidia stock since August 4. The timing aligned with Nvidia’s recent third quarter earnings announcement.

NVIDIA Corporation, NVDA

Nvidia reported results that exceeded Wall Street expectations. Shares initially jumped over 5% following the earnings release. The stock reversed direction throughout the day and finished down 3.15% at $180.64.

The ARK Innovation ETF now holds 505,395 Nvidia shares. This position ranks as the fund’s 23rd largest holding as of November 20.

Crypto Stock Purchases Across Multiple Funds

Wood’s investment firm expanded its cryptocurrency-related holdings on Thursday. The ARK Innovation ETF bought 363,081 shares of Bitmine Immersion Technologies and 241,991 shares of Bullish.

The same fund added 134,650 shares of Circle Internet and 42,419 shares of Coinbase Global. ARK Next Generation Internet ETF purchased 14,867 Bullish shares and 11,321 Bitmine shares.

ARK Fintech Innovation ETF joined the buying activity with 7,676 Bullish shares and 5,842 Bitmine shares. These purchases spread crypto exposure across Wood’s three main technology-focused funds.

Aviation and Biotech Additions

Archer Aviation received substantial backing from ARK on Thursday. The fund purchased 971,423 shares of the electric vertical takeoff and landing aircraft manufacturer.

ARK also increased its biotech sector exposure through multiple purchases. The ARK Innovation ETF bought 496,586 shares of Recursion Pharmaceuticals.

Pacific Biosciences of California received investments totaling 290,617 shares across ARK Innovation and ARK Genomic Revolution ETFs. CRISPR Therapeutics saw purchases of 78,243 shares through the same two funds.

Illumina rounded out the biotech buying with 70,685 shares purchased via ARK Innovation and ARK Genomic Revolution ETFs.

AMD and Exact Sciences Exit Activity

Wood continued reducing her Advanced Micro Devices position on November 20. ARK sold 14,087 AMD shares across three funds: ARK Innovation, ARK Next Generation Internet, and ARK Fintech Innovation.

The largest sale involved Exact Sciences stock. ARK offloaded 932,161 shares across the same three ETFs that sold AMD.

Abbott Laboratories announced its intention to acquire Exact Sciences on Thursday. The medical devices company agreed to pay $21 billion for the cancer testing firm to expand its diagnostics capabilities.

Nvidia shares fell 3.2% despite the positive earnings report. Market weakness and revised expectations for Federal Reserve interest rate policy affected trading across technology stocks on Thursday.

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