Cathie Wood on Monday bought a stock she doesn’t trade very much — Microsoft
The ARK Next Generation Internet ETF
bought $11 million worth of Microsoft, selling the equivalent dollar amount of Endeavor Group
the talent agency.
That’s the first purchase in that fund of Microsoft, according to the tracking service Cathie’s Ark, and now the 26th largest holding in a portfolio where Coinbase Global
the Grayscale Bitcoin Trust
are the leading holdings.
Microsoft is becoming more closely associated with artificial intelligence after boosting its stake in OpenAI, the company behind the wildly popular ChatGPT, in January.
Microsoft shares fell 3% on Monday but have gained 14% this year, outperforming the S&P 500