Cathie Wood’s ARK ETFs made notable adjustments to their investment portfolio on Friday, September 6, 2024, with significant trades that may be of interest to investors. The largest dollar trade of the day involved the purchase of 111,144 shares of Tempus AI Inc (NASDAQ:TEM), worth $6,182,940. The move demonstrates ARK’s growing interest in the field of artificial intelligence, particularly for companies leveraging AI for data-driven solutions.
On the selling side, ARK sold a total of 52,364 shares of Trade Desk Inc (NASDAQ:TTD), the transaction valued at $5,421,768. The sale is part of a recent trend of ARK reducing its holdings in the ad tech company.
Another major buy included 172,188 shares of Recursion Pharmaceuticals Inc (NASDAQ:RXRX), which were divided into ARK’s Innovation ETF (ARKK) and Genomic Revolution ETF (ARKG), with a total value of $1,062,399. This follows a pattern of strengthening ARK’s investment in the biotech company, indicating confidence in the company’s drug discovery platform.
In smaller trading, ARK continued to boost its position in Blade Air Mobility Inc (NASDAQ:BLDE), buying 3,764 shares valued at $10,953. This purchase adds to BLDE’s continued stock rally over the past week.
Instead, ARK divested shares of CareDx Inc (NASDAQ:CDNA), selling 9,489 shares worth $257,436. This continues the selling trend from the previous days. Likewise, ARK sold 81,492 shares of 908 Devices Inc. stock. (NASDAQ:MASS) for $295,815 and 28,428 Mynaric AG (NASDAQ:MYNA) shares for $23,029, which are part of ARK’s recent selling pattern.
ARK also reduced its stake in Vuzix Corp (NASDAQ:VUZI), selling a total of 344,037 shares worth $337,156. This trade was split between the ARK Autonomous Technology & Robotics ETF (ARKQ) and the ARK Next Generation Internet ETF (ARKW), indicating a reduction in investment in the augmented reality company.
These trades reflect ARK’s dynamic investment strategy and provide insight into the sectors and companies the ETFs are currently focusing on. Investors following ARK’s moves can notice a clear tilt towards innovative technologies, with a particular focus on artificial intelligence, biotech and mobility solutions, alongside a strategic reduction in some tech and healthcare stocks.
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Written by D Fernando
