Ark Investment Management, led by the renowned investor Cathie Wood, has significantly increased its stake in Taiwan Semiconductor Manufacturing Company (TSM, Financial). The Ark Innovation ETF (ARKK) and the Ark Next Generation Internet ETF (ARKW) purchased 123,587 and 74,189 shares of TSMC's American Depositary Receipts, respectively. This marks the largest acquisition since June of the previous year, equivalent to 87% of Ark's holding of TSMC shares as of the end of March.
TSMC's stock experienced a significant decline, dropping 37% from its high in January, but has since recovered more than half of its losses. Despite this recovery, Cathie Wood's flagship fund, the Ark Innovation ETF, has risen 82% over the past two years but remains 63% below its all-time high.
