ARK sells Broadcom shares and buys Nvidia and SpaceX during market selloff

ARK Invest disclosed selling 410,559 Broadcom shares and buying 252,592 Nvidia shares and 393,774 SpaceX shares on Nov. 5, when the Nasdaq 100 and all three stocks fell sharply. ARK did not give a reason for the trades; the articles note that the reported dollar values depend on the prices used.

• On Nov. 5, ARK sold 410,559 Broadcom shares. One article valued the block at about $133.6 million using Broadcom’s previous close; another estimated about $119.7 million at that day’s prices.· 2 sources
• ARK also bought 252,592 Nvidia shares and 393,774 SpaceX shares. The articles estimate the purchases at roughly $100 million combined, with values varying according to the prices used.· 1 source
• The ARK Innovation ETF accounted for about $103.9 million of the Broadcom sale at Thursday’s prices. It sold about 356,000 shares from a holding of 358,186, but retained a smaller position.· 1 source
• On the day of the trades, Broadcom fell 10.43% to $291.53, Nvidia dropped 9.26% to $181.60, and SpaceX declined 9.05% to $123.62. Broadcom later traded higher after hours.· 1 source
• Broadcom reported fiscal third-quarter revenue of $29.59 billion, up 85.5%, and AI semiconductor revenue of $16.70 billion, up 221%. It forecast fourth-quarter AI semiconductor revenue of $21.70 billion.· 2 sources