On Wednesday, June 3, Cathie Wood‘s Ark Invest made significant trades involving Alphabet Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG), Meta Platforms Inc. (NASDAQ:META), Advanced Micro Devices Inc. (NASDAQ:AMD), and Alibaba Group Holding Ltd (NYSE:BABA).
The AMD Trade
Ark Invest executed a notable sell-off of AMD shares across several of its ETFs. The trades included selling 51,319 shares from ARK Innovation ETF (BATS:ARKK), 713 shares from ARK Blockchain & Fintech Innovation ETF (BATS:ARKF), 17,861 shares from ARK Next Generation Internet ETF (BATS:ARKW), and 4,945 shares from ARK Space & Defense Innovation ETF (BATS:ARKX).
At a closing price of $542.52, the total value of AMD shares sold amounted to approximately $40.6 million. This move comes amid a broader strategy to rebalance Ark’s exposure to semiconductor stocks, as highlighted in a recent report on Ark’s sale of $56.2 million worth of AMD shares. Ark has been reducing exposure to AMD since May and the trend has continued into June.
Recently, AMD extended support for its AM5 desktop platform through 2029 and launched refreshed Ryzen processors to strengthen its long-term PC strategy and attract upgrades.
