News

Cathie Wood’s ARK Autonomous Technology and Robotics ETF Adjusts Holdings

1 Mins read

Cathie Wood’s ARK Autonomous Technology and Robotics exchange-traded fund (ETF), known as ARKQ, recently made changes to its portfolio. The ETF sold approximately $3 million worth of General Motors Co. (GM) shares while simultaneously purchasing a similar value of Taiwan Semiconductor Manufacturing Co. Ltd.’s (TSM) stock.

Adjustments to Holdings

ARKQ revealed in a disclosure late Thursday that it sold 72,519 shares of GM, which accounted for roughly 19.3% of the ETF’s stake in the company. Based on GM’s closing price of $39.26 per share on Thursday, the total value of the shares sold amounts to approximately $2.85 million.

In contrast, ARKQ acquired 28,909 shares of Taiwan Semi, valued at $97.86 per share at Thursday’s closing price. This purchase resulted in a 19.9% increase in the ETF’s stake in Taiwan Semi, bringing it to the 23rd largest holding within its portfolio.

Portfolio Positions

Within ARKQ’s portfolio of 37 stocks, Tesla Inc. (TSLA) and UiPath Inc. (PATH) are the two largest holdings. As for Taiwan Semi, it now ranks as the ETF’s 23rd largest holding, while GM stands as the 31st largest.

Recent Developments

While Taiwan Semi experienced a 5.1% decrease in stock value on Thursday following disappointing second-quarter margin results, GM shares recorded a marginal increase of 0.1%.

Performance

As of Friday, ARKQ has displayed an impressive year-to-date rally of 39.9%. In comparison, the S&P 500 has achieved an 18.1% gain over the same period.

Related posts
News

$TRUMP and other meme coins won't be protected by SEC, Commissioner Hester Peirce says

3 Mins read
LAS VEGAS — Now that the SEC is out of the business of regulating meme coins, investors shouldn’t expect any guidance on…
News

Man charged in New York with 3-week kidnapping to try to steal Bitcoin

1 Mins read
NEW YORK (Reuters) -A grand jury has indicted a 37-year-old cryptocurrency investor accused of kidnapping a business partner inManhattan’s upscale Soho neighborhood…
News

Goldman Sachs Expert Predicts Significant Gold Price Surge by 2026

2 Mins read
Investors are advised to consider risk-reward balance and portfolio diversification.Trending NowBest Forex Trading Robots To Invest In 2022 Daan Struyven, co-head of…

Leave a Reply

Your email address will not be published. Required fields are marked *

40 − = 38