Cathie Wood Watch: Here's What Ark Is Buying and Selling

On Aug. 9 Ark Invest sold a total of $28.9 million worth of Roku  (ROKU) – Get Free Report, one of the firm’s largest holdings. Ark Innovation was responsible for the bulk of the sell-off, dropping 280,826 shares — valued at around $22.9 million — of the company. 

Ark Next Generation Internet dumped a further 61,652 shares of Roku and Ark Fintech Innovation dumped 12,039 shares. 

DON’T MISS: Cathie Wood dumps $24 million in two of Ark’s largest holdings

Ark has been cutting its holdings in Roku heavily over the past week. The sell-off began Aug. 3, when Ark sold $13 million worth of the tech company. A few days later, the firm cut its Roku holdings by less than $2 million. Ark continued the Roku trim Aug. 7, reducing its holdings by $14 million. 

Ark’s latest Roku trim is its biggest cut for the week — Ark has reduced its holdings in Roku by more than $50 million. 

Still, Roku remains the firm’s second-largest holding, with Ark Innovation owning 8.25 million shares worth $674.1 million and weighted at 8.59% of the fund. The day before, Ark Innovation’s Roku holding was weighted at more than 9% of the fund.

Though Roku is up more than 100% for the year, the company’s stock tumbled around 5% Aug. 9. 

More on Ark Invest:

• Cathie Wood knows how the U.S. economy can avoid a recession
• Cathie Wood sells $13 million of one of Ark’s largest holdings
• Cathie Wood sinks $3 million into one ultra-cheap stock

Ark also trimmed its holdings in Nvidia  (NVDA) – Get Free Report, the chip giant, by around $2.7 million. Nvidia’s stock has traced a meteoric rise throughout 2023 — on Aug. 8, company CEO Jensen Huang revealed a new super chip, the GH200, which is designed to further accelerate AI-driven computing as the company works to be the leading pioneer in the coming expansion of cloud computing.

Nvidia fell 4.7% Aug. 9 to close at $425.54 per share. 

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