Cathie Wood's ARK ETF published their daily trades for Thursday, October 3rd, 2024, showcasing a series of strategic moves in the tech and innovation sectors. Leading the activity was a significant purchase of Tempus AI Inc (NYSE:TEM) shares, with ARK's ARKK ETF acquiring 21,617 shares for a total dollar value of $1,107,871. This move signals a growing confidence in the artificial intelligence company, as ARK has been consistently increasing its position in Tempus AI over recent days.
In contrast, ARK's ARKW ETF parted with a substantial number of Roku Inc (NASDAQ:ROKU) shares, selling 18,087 shares for a total dollar value of $1,341,693. This sale indicates a notable shift in ARK's investment strategy regarding the streaming device maker, as it represents the largest dollar-value trade of the day and continues a trend of selling Roku stock.
Another noteworthy trade involved Blade Air Mobility Inc (NASDAQ:BLDE), a company specializing in urban air mobility solutions. ARK bought a total of 66,555 shares across its ARKQ and ARKX ETFs, with a total investment of $219,631. This follows a pattern of ARK intensifying its stake in Blade Air Mobility, which has been evident in the fund's recent trading history.
Additionally, ARK's ARKQ ETF purchased 12,843 shares of 3D Systems Corp (NYSE:NYSE:DDD) totaling $36,217, further solidifying its interest in the 3D printing sector. Meanwhile, ARKX ETF made a smaller sale, shedding 35,944 shares of JD (NASDAQ:JD) Logistics Inc (SEHK:2618) for a total of $66,665.
Other sales included a minor divestment from Materialise NV (NASDAQ:MTLS), with only 100 shares sold at $513, and a more significant sale of 2,036 shares of Rocket Lab USA Inc (NASDAQ:RKLB) for $19,769. ARKQ ETF also sold 735 shares of Taiwan Semiconductor Manufacturing Co Ltd (NYSE:TSM) for $129,213, and both ARKQ and ARKW ETFs combined sold 200 shares of Vuzix Corp (NASDAQ:VUZI) for a modest $218.
The day's transactions reflect ARK's ongoing adjustments to its portfolios, balancing between bolstering positions in companies like Blade Air Mobility and Tempus AI, while reducing exposure to others such as Roku and JD Logistics. Investors following Cathie Wood's ARK ETFs will likely keep a close watch on these trends to gauge the fund's evolving investment strategy.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.