Cathie Wood's ARK ETFs have made their daily trades public for Tuesday, November 5th, 2024, with notable activity across a range of biotech and tech stocks. The largest transaction of the day came from the purchase of TEMPUS AI INC (NYSE:TEM) shares, with ARK ETFs buying 274,548 shares worth approximately $13,590,126. This move underscores ARK's growing interest in the artificial intelligence healthcare company, adding to their position from previous days.
In the biotech sphere, ARK ETFs continued to increase their holdings in genome editing companies. BEAM THERAPEUTICS INC (NASDAQ:BEAM) saw an addition of 162,505 shares, amounting to $3,958,621, while CRISPR THERAPEUTICS AG (NASDAQ:CRSP) also experienced a significant buy with 84,004 shares totaling $4,249,762. These buys reflect ARK's continued bullish stance on the gene-editing sector, marking an ongoing accumulation trend for these stocks.
On the sell side, ARK divested a substantial number of shares from PALANTIR TECHNOLOGIES INC (NYSE:PLTR), offloading 211,203 shares valued at $8,745,916. This trade stands out as the largest sale of the day and indicates a scaling back of ARK's position in the data analytics firm. BLOCK INC (NYSE:SQ) also faced a reduction with 60,542 shares sold, totaling $4,400,798.
Other sales included STANDARD BIOTOOLS INC (NASDAQ:LAB), with ARK's ARKG ETF selling 591,569 shares for $1,242,294. MODERNA INC (NASDAQ:MRNA) and MATERIALISE NV (NASDAQ:MTLS) saw smaller sales, with ARK offloading 360 and 1,624 shares for $19,274 and $9,971, respectively. NURIX THERAPEUTICS INC (NASDAQ:NRIX), PERSONALIS INC (NASDAQ:PSNL), SENTI BIOSCIENCES INC (NASDAQ:SNTI), SOFI TECHNOLOGIES INC (NASDAQ:SOFI), TESLA INC (NASDAQ:TSLA), and VEEVA SYSTEMS INC (NYSE:VEEV) also experienced sales, but none matched the dollar value of the PLTR and SQ transactions.
The pattern of ARK's trades suggests a strategic shift in their portfolio, with a clear focus on innovative companies in the biotech and tech sectors. Investors and market watchers will be keen to observe how these moves play out in the context of ARK's overall investment strategy.
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