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.