Cathie Wood’s ARK shifts focus, buys Roku, sells Teladoc stock By Investing.com

Cathie Wood’s ARK ETFs have reported their daily trades for Friday, June 21st, 2024, showcasing a mix of strategic buys and sells across various sectors. The trades reflect ARK’s continued focus on innovative companies, with notable shifts in their investment positions.

At the forefront of ARK’s trading activity was a significant purchase of Roku Inc (NASDAQ:) shares, with ARK’s ARKK ETF acquiring 48,338 shares valued at approximately $2,594,300. This move indicates a growing confidence in the streaming device manufacturer, as ARK has increased its stake in Roku, following a similar but smaller purchase earlier in the week.

Conversely, ARK took a bearish stance on Teladoc Health Inc (NYSE:NYSE:), offloading a total of 386,895 shares across its ARKK and ARKG ETFs, amounting to a sale value of $3,733,536. This sale represents ARK’s largest dollar-value trade of the day and continues a selling trend observed in previous trading sessions, suggesting a strategic exit from the telehealth service provider.

Another notable transaction involved Pacific Biosciences (NASDAQ:) of California Inc (NASDAQ:PACB), where ARK bought a substantial 529,304 shares split between its ARKK and ARKG ETFs, totaling $831,007. This purchase aligns with ARK’s investment in genomic revolution companies and follows a pattern of consistent buying in the biotech firm.

Ark’s investment in PagerDuty Inc (NYSE:NYSE:) also continued, with the purchase of 26,051 shares through ARKK and ARKW ETFs, valued at $544,726. This trade adds to ARK’s recent accumulations, signaling a bullish outlook on the cloud computing company.

In smaller but still notable trades, ARK invested in ABSCI Corp (NASDAQ:ABSI), buying 290,516 shares for $848,306, and in Tempus AI Inc (OTC:TEM), with a purchase of 4,863 shares totaling $132,565. Both trades through the ARKG ETF reflect ARK’s interest in emerging biotech enterprises.

Additionally, ARK made smaller buys in Markforged Holding Corp (NYSE:MKFG) and Arcturus Therapeutics (NASDAQ:) Holdings Inc (NASDAQ:ARCT), with investments of $21,653 and $21,724, respectively.

On the sell side, ARK reduced its holdings in Verve Therapeutics Inc (NASDAQ:VERV) and VELO3D Inc (NYSE:VLD), selling shares valued at $563,197 and $88,199, respectively. These sales might indicate a strategic portfolio rebalancing or a response to shifts in ARK’s market outlook for these companies.

Overall, ARK’s trading activity for the day reflects ongoing adjustments to its ETF portfolios, with a clear focus on companies poised for disruptive growth while trimming positions in others to optimize investment outcomes.

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