On Tuesday, Cathie Wood-led Ark Invest made significant trades, notably selling shares of AMD. This move comes as AMD’s stock remained near record highs, following a rally earlier in the week.

The AMD Trade

Ark Invest made a notable decision to sell shares of AMD on Tuesday. The trades were executed through two of Ark’s ETFs: ARK Blockchain & Fintech Innovation ETF and ARK Space & Defense Innovation ETF. The ARKF fund sold 1,470 shares, while ARKX offloaded 22,374 shares. At AMD’s closing price of $507.29, these transactions were valued at approximately $12.09 million.

This decision follows AMD’s recent acquisition of MEXT, a company specializing in AI-driven memory optimization technology. The acquisition aims to bolster AMD’s data center and AI capabilities, addressing a critical bottleneck in modern data centers.

AMD is ARK's second-largest holding on a consolidated basis, trailing only Tesla. The firm’s AMD position is valued at more than $1 billion and accounts for 8.92% of its overall portfolio by weight. However, Wood has been trimming AMD holdings in May and June and has sold millions of dollars’ worth of the tech giant’s stock. On Monday alone, she sold stock worth nearly $77.4 million.

Other Key Trades:

• Sold 186,304 shares of Strata Critical Medical Inc (SRTA) from the ARKQ and 209,342 shares from ARKX.