Cathie Wood’s ARK Next Generation Internet ETF recently made significant additions to its portfolio, acquiring shares of Microsoft and Meta Platforms. The move was part of the fund’s efforts to enhance its exposure to the field of artificial intelligence.
On Monday, the ARK Next Generation Internet ETF purchased 8,810 shares of Microsoft and 10,212 shares of Meta. This marked the first time since March and July, respectively, that the fund added these stocks to its holdings.
As per the latest ARK Invest holdings data sheet, Meta currently represents a 1.1% weight in the ETF, while Microsoft has a weight of 1%.
ARK Invest, the firm founded and headed by Cathie Wood, has consistently emphasized its commitment to investing in companies with significant involvement in artificial intelligence. In an interview with Yahoo Finance on November 15, Wood stated that practically every stock in their portfolio was chosen due to its AI-related reasons.
During premarket trading, the ARK Next Generation Internet ETF remained flat. However, Microsoft shares witnessed a 0.3% increase, while Meta platform’s stock gained 0.2%.