Cathie Wood's ARK ETFs have made a series of notable trades on Friday, 19 July 2024, as the investment management firm adjusted its holdings in various high-tech companies. The most significant trade of the day involved the purchase of 38,595 shares of cybersecurity firm CrowdStrike Holdings Inc (NASDAQ:CRWD), valued at approximately $13.24 million, with the shares being acquired through both the ARKW and ARKF ETFs.
In addition to bolstering its position in CrowdStrike, ARK also increased its stake in software development platform GitLab Inc (NASDAQ:GTLB), buying 38,519 shares through its ARKW ETF, amounting to a little over $2 million in value.
On the sell side, ARK reduced its holdings in several companies, including a sizeable sell-off of electric vehicle giant Tesla Inc (NASDAQ:TSLA), parting with 17,607 shares through its ARKW ETF, which equated to nearly $4.39 million. This move follows a trend observed earlier in the week when ARK sold a larger batch of Tesla shares on Thursday, 18 July.
The firm also trimmed its exposure to Coinbase Global Inc (NASDAQ:COIN), selling 16,758 shares for a total of $3.91 million through its ARKW ETF. This continues a pattern of selling Coinbase shares, as seen in the previous week's trading activity.
Other notable sales included Roblox Corp (NYSE:RBLX) with 88,545 shares sold through the ARKF ETF, valued at approximately $3.52 million, and Intuitive Surgical Inc (NASDAQ:ISRG), from which 3,623 shares were sold through the ARKQ ETF for about $1.51 million.
Smaller transactions included the sale of UiPath Inc (NYSE:NYSE:PATH) and the purchase of Oklo Inc (PRIVATE:OKLO), with the latter being a consistent buy for ARK over the past week, signaling a potential trend in the firm's investment strategy.
Investors and market watchers often scrutinize ARK's daily trades for insights into the firm's strategy, as Cathie Wood's ETFs are known for their focus on disruptive innovation and technology. The ongoing adjustments to the portfolios reflect ARK's active management approach and its continuous rebalancing to align with its investment thesis.
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