On Aug. 9 Ark Invest sold a total of $28.9 million worth of Roku (ROKU) -), one of the firm's largest holdings. Ark Innovation was responsible for the bulk of the sell-off, dropping 280,826 shares -- valued at around $22.9 million -- of the company.
Ark Next Generation Internet dumped a further 61,652 shares of Roku and Ark Fintech Innovation dumped 12,039 shares.
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Ark has been cutting its holdings in Roku heavily over the past week. The sell-off began Aug. 3, when Ark sold $13 million worth of the tech company. A few days later, the firm cut its Roku holdings by less than $2 million. Ark continued the Roku trim Aug. 7, reducing its holdings by $14 million.
Ark's latest Roku trim is its biggest cut for the week -- Ark has reduced its holdings in Roku by more than $50 million.
Still, Roku remains the firm's second-largest holding, with Ark Innovation owning 8.25 million shares worth $674.1 million and weighted at 8.59% of the fund. The day before, Ark Innovation's Roku holding was weighted at more than 9% of the fund.
Though Roku is up more than 100% for the year, the company's stock tumbled around 5% Aug. 9.
More on Ark Invest:
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- Cathie Wood sells $13 million of one of Ark's largest holdings
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Ark also trimmed its holdings in Nvidia (NVDA) -), the chip giant, by around $2.7 million. Nvidia's stock has traced a meteoric rise throughout 2023 -- on Aug. 8, company CEO Jensen Huang revealed a new super chip, the GH200, which is designed to further accelerate AI-driven computing as the company works to be the leading pioneer in the coming expansion of cloud computing.
Nvidia fell 4.7% Aug. 9 to close at $425.54 per share.
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