Cathie Wood's ARK Invest has significantly increased its stake in Archer Aviation, with the stock rising nearly 8% recently and its market value nearly doubling over the past month. ARK Innovation ETF (ARKK) purchased 4.7 million shares, accounting for 0.45% of its portfolio. The fund now holds a 2.14% weight in Archer Aviation. Additionally, ARK Autonomous Technology & Robotics ETF (ARKQ) and ARK Space Exploration & Innovation ETF (ARKX) collectively bought over 5 million shares, worth $36 million, approximately 1% of Archer's total market capitalization.
Conversely, ARK Innovation ETF sold nearly 35,000 shares of Tesla, representing about 0.2% of its portfolio. Tesla remains the largest holding in the fund, with a weight close to 16%. ARK Autonomous Technology & Robotics ETF also slightly reduced its Tesla holdings.
