Famed Robot-Run ETF Buys Back Into Tesla Heavily After Booking Profits Earlier
$Qraft AI-Enhanced U.S. Large Cap Momentum ETF(AMOM.US$ an exchange-traded fund driven by artificial intelligence, has acquired new stakes in $Tesla(TSLA.US$ , $Netflix(NFLX.US$ and $Autodesk(ADSK.US$ , while entirely divesting its holdings in $Intel(INTC.US$ , $PayPal(PYPL.US$ and $Moderna(MRNA.US$ .
What Happened: The ETF’s latest portfolio after rebalancing in early December showed that it has also entirely divested its holdings in technology company $IBM Corp(IBM.US$ and oil giant $ConocoPhillips(COP.US$ .
The ETF, which has assets under management of $27.07 million, has a history of accurately predicting the price movements of Tesla’s shares.
The fund now has electric vehicle maker Tesla as its largest investment with a 7.7% weighting, followed by streaming giant Netflix with a weighting of 6.8% and biotechnology firm $Merck & Co(MRK.US$ with 5.1% weighting.
The other two stocks that make up the top five holdings in the AMOM portfolio are software company Autodesk with a 2.5% weighting and glucose monitoring systems maker $DexCom(DXCM.US$ with 2.4%.
Prior to the rebalancing, the ETF had Intel, PayPal, Moderna, IBM and ConocoPhillips as its five largest holdings.
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