ARK Funds Sold 23,573 AMD Shares on the 17th Amid Semiconductor Stocks Decline

ARK Funds, led by CEO Cathy Wood, sold 23,573 AMD shares on the 17th (local time) at $495.76 per share, totaling approximately $11.7 million (17.3 billion won). The transaction continues Wood's months-long pattern of reducing AMD holdings, with the fund selling 137,421 AMD shares this month alone. The sale occurred as AMD stocks fell over 11% in the past week amid a broader semiconductor sector correction triggered by concerns over Micron Technology facing intensified competition from Chinese chipmakers, prompting profit-taking across the previously strong-performing semiconductor industry.

ARK Funds Sold 23,573 AMD Shares on the 17th

According to The Street, ARK Funds sold 23,573 AMD shares on the 17th (local time). Based on the closing price of $495.76 per share, the transaction amounted to approximately $11.7 million (about 17.3 billion won).

ARK Sold 137,421 AMD Shares This Month

CEO Wood has steadily reduced AMD holdings over the past few months and continued the selling trend this month. Including this transaction, ARK Funds sold 137,421 AMD shares this month alone. Based on recent closing prices, this represents approximately $68.1 million (about 170 billion won).

AMD Stocks Fell Over 11% Amid Semiconductor Sector Correction

AMD stock fell more than 11% over the past week as the broader semiconductor sector experienced a correction. The weakness was triggered by pressure on Micron Technology stock due to concerns over intensified competition with Chinese semiconductor manufacturers.

While AMD focuses primarily on central processing units (CPUs) and graphics processing units (GPUs) and does not directly compete in the memory market, analysts attribute AMD's decline to investors taking profits across the semiconductor sector, which had shown strong performance this year.

AMD Remains 8th Largest Holding in ARK Innovation ETF

Despite CEO Wood's consecutive sales, AMD still ranks as the eighth-largest holding in the ARK Innovation Exchange-Traded Fund (ETF).

FAQ

How many AMD shares did ARK Funds sell on the 17th?

ARK Funds sold 23,573 AMD shares on the 17th (local time) at $495.76 per share, totaling approximately $11.7 million (about 17.3 billion won).

Why did AMD stocks fall over 11% in the past week?

AMD stocks fell more than 11% over the past week amid a broader semiconductor sector correction triggered by concerns over Micron Technology facing intensified competition from Chinese chipmakers, leading to profit-taking across the previously strong-performing semiconductor industry.

What is AMD's current position in the ARK Innovation ETF?

Despite CEO Cathy Wood's consecutive sales, AMD remains the eighth-largest holding in the ARK Innovation Exchange-Traded Fund (ETF).