Cathie Wood-led Ark Investment Management bought over 31,000 shares of Nvidia Corporation NVDA, via two of the firm’s exchange-traded funds, valued at over $4.2 million based on Tuesday’s closing price.
Nvidia is the 34th largest holding in the firm’s ARK Autonomous Tech & Robotics ETF ARKQ with a weight of 0.63%, according to Ark data. It is the 23rd largest holding in ARK Next Generation Internet ETF ARKW, with a weight of 1.33%.
Wood has been loading up on Nvidia shares in recent times as the stock took a hit following the restrictions on AI chip sales to China.
The company said in a Securities and Exchange Commission filing on Wednesday that the Biden administration placed restrictions on sales of its A100 and H100 chips to Russia and China.
Price Action: The stock has lost over 24% over the past month and closed down 1.3% at $134.65 on Tuesday, according to data from Benzinga Pro.
Image and article originally from www.benzinga.com. Read the original article here.