On Thursday, Cathie Wood-led Ark Invest made significant trades, notably increasing its stake in Bullish Inc. (NYSE:BLSH) while reducing its position in Taiwan Semiconductor Manufacturing Co., Ltd. (NYSE:TSM). These trades reflect Ark’s strategic adjustments amid evolving market conditions.
The Bullish Trade
Ark Invest made a substantial investment in the Peter Thiel-backed Bullish on Thursday, purchasing a total of 139,117 shares across its ARK Blockchain & Fintech Innovation ETF (BATS:ARKF), ARK Innovation ETF (BATS:ARKK), and ARK Next Generation Internet ETF (BATS:ARKW). The shares were acquired at a closing price of $35.96, amounting to an investment of approximately $5 million.
On Wednesday, Ark purchased 3.1 million worth of Bullish stock. The platform that allows users to trade in digital assets like Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) recently reported strong first-quarter results.
The TSMC Trade
In contrast, Ark Invest decided to sell 2,131 shares of Taiwan Semiconductor Manufacturing Co Ltd (NYSE:TSM) from its ARKW fund. The shares were sold at a closing price of $407.15, resulting in a transaction value of approximately $867,637. This sale occurs as TSM’s stock experiences a modest gain of 1.38%, reaching the upper end of its 52-week range.
TSMC’s recent stock movement is attributed more to relative-strength positioning rather than any specific company catalyst. Investors continue to favor large-cap semiconductor names, even as broader market sentiment weakens.
Benzinga Edge Stock Rankings indicate TSMC stock has a Momentum score in the 90th percentile and a Value score in the 26th percentile.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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