The ARK Innovation ETF (ARKK) saw a significant surge of 5.01% in intraday trading, as investors reacted positively to a series of strategic moves by Cathie Wood's ARK Invest. The fund's management has made several high-profile adjustments to its portfolio, signaling a bullish stance on key players in the tech sector.

ARK Invest's most notable transaction was the addition of 188,980 shares of NVIDIA Corp (NVDA), valued at approximately $18.5 million. This substantial investment in the semiconductor giant underscores the firm's confidence in the continued growth of the AI and chip markets. Additionally, the fund increased its stakes in other tech heavyweights, purchasing 33,746 shares of Amazon.com Inc (AMZN) worth $5.9 million and 31,730 shares of Coinbase Global Inc (COIN) valued at nearly $5 million.

While building positions in these growth-oriented companies, ARK also demonstrated its agility by reducing exposure in other areas. The firm sold off 1.6 million shares of UiPath Inc (PATH) across three ETFs, totaling about $15.9 million. This reallocation of capital, favoring companies at the forefront of technological innovation, appears to have resonated with investors, contributing to ARKK's impressive intraday performance. As the market continues to evolve, all eyes will be on Cathie Wood's next moves and their potential impact on the fund's trajectory.