Cathie Wood’s ARK ETF adjusts portfolio, buys DraftKings, sells Unity By Investing.com

Cathie Wood’s ARK ETFs have made notable changes to their investment portfolios on Tuesday, September 10, 2024, with DraftKings Inc (NASDAQ:) and Advanced Micro Devices Inc (NASDAQ:) being the major stocks bought, while significant sales included Unity Software Inc (NYSE:U) and Palantir Technologies Inc (NYSE:NYSE:).

ARK’s largest buy for the day was DraftKings, with the ARKK ETF acquiring 181,842 shares, amounting to a total dollar value of $6,566,314. This follows a trend as ARK has been increasing its position in the sports betting company over recent days. Advanced Micro Devices also saw a substantial purchase with 47,717 shares bought by the ARKK ETF, valued at $6,592,103.

On the sell side, Unity Software faced a major reduction in ARK’s holdings, with a total of 908,278 shares sold across the ARKK and ARKW ETFs, totaling $15,595,133 in value. Palantir Technologies also saw a significant sell-off, with 124,626 shares sold by the ARKK ETF, valued at $4,312,059.

Other notable buys included ABSCI Corp (NASDAQ:ABSI) with 212,034 shares acquired by the ARKG ETF for $742,119, and Tempus AI Inc (NYSE:TEM) with the ARKK ETF purchasing 36,238 shares at a value of $1,712,970.

In terms of sales, ARK’s ARKG ETF divested from Exact Sciences Corp (NASDAQ:), selling 40,063 shares for a total of $2,355,303, and from Twist Bioscience Corp (NASDAQ:), selling a combined 87,861 shares through the ARKK and ARKG ETFs for a value of $3,273,700.

Smaller trades included buys in Guardant Health Inc (NASDAQ:), Ionis Pharmaceuticals Inc (NASDAQ:), Personalis Inc (NASDAQ:), and Rubrik Inc (NASDAQ:RBRK). Meanwhile, smaller sales were made in stocks such as Butterfly Network Inc (NYSE:BFLY), 908 Devices Inc. (NASDAQ:MASS), Veracyte Inc (NASDAQ:), Veeva Systems Inc (NYSE:NYSE:), Verve Therapeutics Inc (NASDAQ:VERV), Vertex Pharmaceuticals Inc (NASDAQ:), and Vuzix Corp (NASDAQ:).

These daily trades by Cathie Wood’s ARK ETFs continue to reflect a dynamic approach to portfolio management, with a focus on innovative and disruptive companies. Investors are keeping a close eye on ARK’s strategies, as these trades may signal the fund’s outlook on various sectors and individual stock prospects.

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