Cathie Wood’s ARK ETF adjusts portfolio with major stock trades By Investing.com

In the ever-evolving landscape of the stock market, Cathie Wood’s ARK ETFs are known for their active trading strategy. Today’s report on Friday, 13 September 2024, reveals a series of calculated moves, with a focus on both divestment and investment in various sectors.

Topping the list of trades, ARK ETFs have parted ways with a significant number of shares in ROBLOX CORP (NYSE:RBLX), selling 12409 shares with a total dollar value of $563,492. This move was closely followed by a reduction in holdings of PALANTIR TECHNOLOGIES INC (NYSE:PLTR), with 13713 shares sold, equating to $478,720.

On the other side of the spectrum, ARK ETFs made a notable purchase of TEMPUS AI INC (NASDAQ:TEM), buying 9249 shares worth $420,367. This acquisition signals a growing interest in the AI sector, aligning with ARK’s known investment philosophy centered on disruptive innovation.

The sale of ROBINHOOD MARKETS INC (NASDAQ:HOOD (NASDAQ:)) shares continued, with 19357 shares sold through the ARKF ETF, amounting to $418,885. This trade is part of a recent trend, as ARK has been reducing its position in the company over the past few days.

In the healthcare technology space, ARK ETFs have reduced their stake in BUTTERFLY NETWORK INC (NYSE:BFLY), selling 90562 shares for a total of $170,256. This is an extension of the selling pattern observed in previous days, suggesting a strategic shift in ARK’s investment in the company.

The biotech sector also saw ARK ETFs divest from 908 DEVICES INC. (NASDAQ:MASS), with 37002 shares sold, totaling $128,396. Additionally, MYNARIC AG (NASDAQ:MYNA) shares were reduced by 13497, valued at $9,532, and VUZIX CORP (NASDAQ:VUZI) saw a combined sale of 37700 shares across ARKQ and ARKW ETFs, amounting to $39,207.

Conversely, ARK’s ARKG ETF made a modest investment in ABSCI CORP (NASDAQ:ABSI), purchasing 920 shares at a value of $3,394. Although a smaller trade, it continues the buying trend observed in previous sessions, indicating a growing confidence in the company’s prospects.

Today’s trades by ARK ETFs underscore the fund’s dynamic approach to portfolio management, with a keen eye on emerging trends and a readiness to pivot when necessary. Investors and market watchers alike will be keeping a close eye on these moves as indicators of ARK’s strategic direction in a volatile market environment.

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