: Cathie Wood’s ARK Autonomous Tech ETF sold nearly 20% of its stake in GM, while boosting its Taiwan Semi holding by 20%

Cathie Wood’s ARK Autonomous Technology and Robotics exchange-traded fund ARKQ sold nearly $3 million worth of General Motors Co. shares GM, while buying roughly the same amount of Taiwan Semiconductor Manufacturing Co. Ltd.’s stock TSM. The ARK ETF disclosed late Thursday, that it sold 72,519 GM shares, which represented 19.3% of the ETF’s stake in the stock. Based on Thursday’s closing price of $39.26 the shares sold would be valued at $2.85 million. At the same time, the ETF bought 28,909 Taiwan Semi shares, which at Thursday’s close of $97.86 would be worth $2.83 million, to boost its stake by 19.9%. As of Friday, the Taiwan Semi was the ETF’s 23rd largest holding, of the 37 stocks the ETF owns, and GM was the 31st largest holding. The largest holdings are shares of Tesla Inc. TSLA and UiPath Inc. PATH Taiwan Semi’s stock had dropped 5.1% on Thursday after the contract semiconductor maker reported disappointing second-quarter margin results, while GM shares edged up 0.1%. The ETF has rallied 39.9% year to date, while the S&P 500 SPX has gained 18.1%.

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