Editor’s Note: The headline has been corrected from the original version to ensure accuracy and clarity

On Wednesday, Cathie Wood-led Ark Invest executed notable trades, including a significant purchase of Advanced Micro Devices Inc. (NASDAQ:AMD) shares. On the same day, Ark also sold shares of Block Inc. (NYSE:XYZ).

The AMD Trade

Ark Invest’s ARK Space Exploration & Innovation ETF (BATS:ARKX) acquired 3,351 shares of AMD. This purchase aligns with AMD’s recent momentum, as the company raised the price of its MI350 AI chip by $10,000, bringing it to $25,000 per unit. This price adjustment indicates AMD’s increasing confidence in its position against competitors like Nvidia. The trade value for AMD shares, based on the latest closing price of $179.51, was $601,538. Notably, AMD shares have shot up almost 13% over the last five days.

The Block Inc. Trade

In another significant move, the Ark Fintech Innovation ETF (BATS:ARKF) sold 12,061 shares of Block on the same day. Block shares ended the day at $77.59, making this transaction worth $935,812.

This sale comes as Block co-founder Jack Dorsey announced that his decentralized messaging app, Bitchat, has entered the top 200 free apps on Apple’s App Store. Block is a company that is centered around the largest cryptocurrency, Bitcoin (CRYPTO: BTC)

Notably, Ark sold $1.5 million worth of Block shares on Tuesday. These sales come amid buzz centered around Block’s inclusion in the S&P 500.

Other Key Trades:

• Purchased 328,531 shares of SoFi Technologies Inc. (SOFI) through ARKK.
• Sold 60,689 shares of Roku Inc. (ROKU) via ARKK and 6,504 shares through ARKW.
• Bought 167,687 shares of PagerDuty Inc. (PD) in ARKK and 53,871 through ARKW.
• Sold 43,703 shares of Joby Aviation Inc. (JOBY) through ARKQ and 14,036 through ARKX.

Benzinga’s Edge Stock Rankings for AMD indicate the stock checks out on Short, Medium and Long Price Trends. Discover how it fares on other parameters.

Photo Courtesy: ChrisStock82 on Shutterstock.com

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This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal