Cathie Wood’s ARK ETF adjusts positions, buying Roblox and selling UiPath By Investing.com

Cathie Wood’s ARK ETF published their daily trades for Friday, August 23rd 2024, with several significant transactions catching the eye of investors. The fund’s largest transaction involved the sale of 281,894 shares of UiPath Inc (NYSE:), a global software company specializing in robotic process automation. The sale, spread across the ARKK and ARKF ETFs, amounted to a substantial $3,399,641.

In contrast, ARK showed a bullish stance on Roblox Corp (NYSE:RBLX), an online entertainment platform, by purchasing 26,951 shares valued at $1,168,595. This move is part of a recent trend as ARK has been consistently increasing its position in Roblox over the past week, indicating a strong conviction in the stock’s potential.

Another notable buy was Recursion Pharmaceuticals Inc (NASDAQ:RXRX), a biotechnology firm using automated technologies to discover drugs. ARK acquired 59,975 shares through its ARKK and ARKG ETFs, with a total investment of $440,816.

ARK also divested from several healthcare-related stocks. It sold 81,565 shares of CareDx Inc (NASDAQ:), a diagnostics company, for a total of $2,525,252. Moreover, the fund continued to reduce its holdings in Teladoc Health Inc (NYSE:NYSE:) by selling 93,615 shares, amounting to $665,602, and in Unity Software Inc (NYSE:U), where it sold 131,803 shares resulting in $2,223,516.

Smaller trades included the sale of shares in 908 Devices Inc. (NASDAQ:MASS), Materialise NV (NASDAQ:), Verve Therapeutics Inc (NASDAQ:VERV), Vuzix Corp (NASDAQ:), and Zoom Video Communications Inc (NASDAQ:), with respective dollar values of $104,813, $15,478, $89,728, $56,982, and $6,667.

Another purchase included Arcturus Therapeutics (NASDAQ:) Holdings Inc (NASDAQ:ARCT), a clinical-stage mRNA medicines and vaccines company, with 9,201 shares bought totaling $197,545. This purchase aligns with ARK’s strategy from the previous days, where they have been progressively building their position in Arcturus.

Investors and market watchers pay close attention to ARK’s daily trade reports, as Cathie Wood’s investment decisions are often seen as forward-looking, focusing on innovative and disruptive companies. The disclosed trades provide a window into the fund’s strategy and potential outlook on various sectors and stocks.

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