Cathie Wood's Ark Pours $3.3M More Into This Chipmaker Amid AI Frenzy: Here Are Other Major Monday Trades

Cathie Wood's Ark Investment Management bulked up on a couple of stocks on Monday when the broader market staged a rebound amid hopes of seeing tame June inflation data.

Splurging On TSMC: Ark, through its Ark Autonomous Technology & Robotics ETF ARKQ picked up 32,896 shares of Taiwan Semiconductor Manufacturing Company Limited TSM. The purchase is valued at $3.28 million at Monday's closing price of $99.77.

Taiwan-based TSMC is the world's biggest foundry and it is a major supplier to semiconductor and consumer electronics companies. The company reported Monday better-than-expected second-quarter sales, thanks to demand from AI tech companies.

Ark began a selling spree of TSMC in January 2021, coinciding with the Chinese clampdown on big tech stocks. The selling continued through late April 2021 and for a while Ark did not trade in TSMC. The firm resumed Ark buying in mid-June this year and has since then accumulated 175,828 shares.

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Other Major Trades: Ark also bought chunks of shares of PagerDuty, Inc. PD, a cloud-computing company specializing in a SaaS incident response platform for IT departments.

Ark Innovation ETF ARKK and Ark Next Generation Internet ETF ARKW bought 34,917 shares of PagerDuty valued at $788,425.

The firm also bought 169,682 shares of Adaptive Technologies, Inc. ADPT.

Ark's other transactions were disposals and the major shares sold on Monday include:

• Kratos Defense & Security Solutions, Inc. KTOS: 118,382 shares
• Surface Oncology, Inc. SURF: 379,277 shares
• DraftKings, Inc. DKNG: 67,691 shares

Related Link: Cathie Wood’s Ark Outshines S&P 500, Nasdaq In H1: Here Are The Major Trades It Made

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