Before the earnings report, over 34,000 shares were scooped up! Cathie Wood's ARK ETF increased its position in NVIDIA
Cathie Wood of ARK Invest increased her holdings by 34,543 shares of NVIDIA on the eve of its earnings report, specifically adding 21,504 shares to the ARK Innovation ETF and 13,039 shares to the ARK Next Generation Internet ETF. This move has raised NVIDIA's ranking in the holdings of ARKK and ARKW. Since November 2022, there have been eight sell transactions and only two buy transactions for NVIDIA in ARKK. This increase in holdings may indicate a strategic adjustment by ARK Invest regarding its position in AI leading stocks
According to the Zhitong Finance APP, Cathie Wood, the head of ARK Invest, conducted an increase in holdings on Tuesday, buying 34,543 shares of chip giant NVIDIA (NVDA.US) ahead of its earnings report. Specifically, its flagship product ARK Innovation ETF (ARKK.US) increased its holdings by 21,504 shares, while the ARK Next Generation Internet ETF (ARKW.US) purchased 13,039 shares. This operation raised NVIDIA's ranking in ARKK's holdings to 29th place and improved its position in ARKW's holdings to 24th place.
It is noteworthy that the timing of this increase contrasts sharply with ARKK's past operations: since November 2022, the fund has sold in eight out of ten transactions involving NVIDIA, with only two purchases occurring on Tuesday and May 7 (when 64,838 shares were bought). A similar pattern is also seen in ARKW's trading records—out of the last ten transactions, eight were reductions, with the only two increases being the purchases of 19,645 shares on Tuesday and May 7.
As a core target for the AI market in 2024, NVIDIA will disclose its latest earnings report after the market closes on Wednesday. Cathie Wood's "unconventional" increase in holdings coincides with a critical moment when the market is focused on the performance guidance of chip giants. ARK Invest's simultaneous increase through two actively managed ETFs not only continues its cautiously bullish stance on NVIDIA since May but also indicates that this institution, known for its "disruptive innovation" investments, may be adjusting its holding strategy for AI leading stocks.
Current holding data shows that although NVIDIA has not yet entered ARKK's top ten heavyweights, its weight ranking has significantly improved since the end of the first quarter after this increase. Against the backdrop of a sustained explosion in AI computing power demand, the report card that this third-largest chip giant in the world is about to deliver may directly influence ARK Invest's subsequent adjustment pace
