Cathie Wood’s ARK Invest added aerospace and defense stocks as U.S. contracts and foreign military sales were announced.
ARK Invest increased its exposure to aerospace and defense stocks on Monday, selling $19 million in Rocket Lab shares. The move follows new contracts awarded to Lockheed Martin and Northrop Grumman by the U.S. Navy.
The U.S. Department of State also approved foreign military sales to South Korea, India, and Belgium. Defense stocks have seen renewed interest amid geopolitical tensions and increased government spending.
No immediate market reaction was reported following the announcements or ARK’s portfolio adjustments.