An Infrastructure Stock Cathie Wood Loves By StockNews

© Reuters. An Infrastructure Stock Cathie Wood Loves

Renowned investor Cathie Wood has been increasing her stake in software development company Trimble, Inc. (TRMB), which might prove to be the next big thing for the stock. While many investors are betting on raw material and construction stocks amid a perceived impending infrastructure boom, Wood has taken a different approach and is investing in the digitization of infrastructure industries through TRMB stock. If you’re curious why, then let’s take a closer look.Investor Cathie Wood is betting on infrastructure development in the United States. She currently holds 4.98 million shares of industrial software developer Trimble, Inc. (TRMB), representing a combined 0.8% weighting across four Ark Investment ETFs. Following a March 29 announcement of President Biden’s proposed $2 trillion infrastructure package, Wood increased her stake in TRMB, purchasing 1.45 million additional shares. As of April 9. Wood had a 1.99% stake in TRMB.

As the owner of the world’s largest actively traded ETF company, Wood’s investment picks have eventuated to be amongst the most profitable stocks with immense upside potential. Wood often places her bets on industry disruptive technology companies, with the potential to revolutionize operations in a particular industry.

In the current digitization era, TRMB’s software applications could pave the way for tech-oriented infrastructure development. This sentiment is shared by other institutional and retail investors, as evidenced by the stock’s price performance. Shares of TRMB have gained 136.7% over the past year, and 22.1% year-to-date.

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