Cathie Wood’s ARK ETFs published their daily trades for Friday, June 7th, 2024, revealing a series of strategic moves across various sectors. Leading the day’s acquisitions was the purchase of 85,785 shares of PAGERDUTY INC (NYSE:PD), with a total investment of approximately $1,698,542. This buy indicates a continued bullish stance on the cloud-computing company, as ARK also made significant purchases of PD stock earlier in the week.
In the biotech space, ARK’s largest transaction was the addition of 50,574 shares of ARCTURUS THERAPEUTICS HOLDINGS INC (NASDAQ:ARCT) for a value of $2,154,452 through its ARKG ETF. This move underscores ARK’s focus on innovative healthcare solutions, as ARCT also saw substantial buys in previous days.
Another notable buy was 67,175 shares of INTELLIA THERAPEUTICS INC (NASDAQ:NTLA) totaling $1,541,666. The consistent accumulation of NTLA shares over the past week suggests ARK’s strong conviction in the gene-editing company’s growth potential.
ARK also showed interest in the social media sector, buying 13,240 shares of REDDIT INC (NASDAQ:RDDT) through its ARKF ETF, amounting to $840,210. This purchase aligns with ARK’s investment in disruptive technologies and platforms.
On the sell side, ARK reduced its holdings in ROBINHOOD MARKETS INC (NASDAQ:HOOD (NASDAQ:)) by unloading a total of 66,200 shares across three ETFs (ARKK, ARKW, and ARKF), resulting in proceeds of $1,520,613. This sell-off continues ARK’s recent trend of trimming positions in the online brokerage firm.
The ETFs also sold off positions in EXACT SCIENCES CORP (NASDAQ:EXAS) and SERVICENOW INC (NYSE:NOW), with total values of $533,225 and $125,162, respectively. These sales might reflect ARK’s strategy to reallocate investments towards more promising opportunities.
Smaller transactions included the purchase of 15,338 shares of MARKFORGED HOLDING CORP (NYSE:MKFG) valued at $6,902 and the sale of 78102 shares of VELO3D INC (NYSE:VLD) for just $10,942, indicating minor portfolio adjustments.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
https://i-invdn-com.investing.com/news/World_News_8_800x533_L_1420026210.jpg
Source link
Investing.com
