ARK Innovation ETF Trims Palantir and AMD Holdings to Boost Archer Aviation Position

Cathie Wood's ARK Innovation ETF has made some strategic adjustments to its holdings in recent trading activity.

The fund reduced its stakes in Palantir (PLTR) and Advanced Micro Devices (AMD), selling approximately $3.35 million worth of shares in these companies.

This move comes as the fund increased its investment in Archer Aviation (ACHR), purchasing around $3.35 million in shares to strengthen its position in the company.

Archer Aviation has recently announced a significant partnership with Boeing, acquiring several of its divisions including Insitu, SkyGrid, and Wisk Aero, which will grant Boeing a 16.5% equity stake in Archer.