Cathie Wood's flagship ETF starts buying back into Nvidia stock
Cathie Wood's flagship ETF, the ARK Innovation ETF, is buying Nvidia shares again after previously selling the company's stock. Wood has been bullish on artificial intelligence, believing it to be the most disruptive technology in history, and invested in Nvidia when it was still unknown. However, the ARK Innovation ETF sold out of Nvidia shares too early, missing out on the AI-driven surge in stock prices from mid-2023 to 2024. On April 8, the ARK Innovation ETF bought 151,979 shares of Nvidia, worth about $14.8 million, making it the ETF's 32nd largest holding with a weight of 0.33%. In comparison, Tesla remains the largest holding of the ARK Innovation ETF, with a weight of 11.94%.