Cathie Wood-run Ark's Nvidia Stake Dwindles Further As The Firm Offloads About $10M Worth Of Shares
Portfolio Pulse from Shanthi Rexaline
Ark Invest, managed by Cathie Wood, has sold more Nvidia Corp. (NASDAQ:NVDA) shares, expressing concerns over the stock's valuation. The Ark Genomic Revolution ETF (CBOE: ARKG) sold 3,412 Nvidia shares on Friday, totaling a weekly sale of 21,014 shares or $9.79 million. The Ark Innovation ETF (NYSE:ARKK) divested its entire Nvidia stake by early January 2023. Nvidia is also part of the Ark Autonomous Technology & Robotics ETF (CBOE: ARKQ), with a 2.85% weighting.
September 09, 2023 | 3:11 pm
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NEUTRAL IMPACT
The Ark Genomic Revolution ETF has reduced its Nvidia stake.
The reduction of Nvidia shares in the Ark Genomic Revolution ETF's portfolio may not have a significant impact on the ETF itself, as it is diversified across multiple assets. However, it does indicate a shift in investment strategy.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 80
NEUTRAL IMPACT
The Ark Innovation ETF has divested its entire Nvidia stake.
The divestment of Nvidia shares by the Ark Innovation ETF may not significantly impact the ETF itself due to its diversified portfolio. However, it does indicate a change in investment strategy.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 80
NEUTRAL IMPACT
Nvidia is part of the Ark Autonomous Technology & Robotics ETF with a 2.85% weighting.
Nvidia's presence in the Ark Autonomous Technology & Robotics ETF's portfolio may not have a significant impact on the ETF itself due to its diversified nature. However, it does indicate the ETF's investment in the technology sector.
CONFIDENCE 90
IMPORTANCE 50
RELEVANCE 60
NEGATIVE IMPACT
Ark Invest's sale of Nvidia shares indicates concerns over the stock's valuation.
The sale of Nvidia shares by Ark Invest, a significant institutional investor, could negatively impact the stock's price in the short term. This is due to concerns over the stock's valuation, which could influence other investors' perceptions and actions.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100