Cathie Wood's ARK ETFs continued to adjust their holdings on Thursday, 26 September 2024, with a mix of buys and sells across various sectors. The most significant move of the day was the purchase of 2023 shares of AMAZON.COM INC (NASDAQ:AMZN) through its ARKQ ETF, reflecting a total dollar value of $389,488. This latest acquisition of Amazon (NASDAQ:AMZN) stock adds to ARK's recent investment trend in the e-commerce giant, signaling Cathie Wood's continued confidence in the company's growth potential.
On the selling front, ARK ETFs made several transactions, with the largest sale involving 39805 shares of BUTTERFLY NETWORK INC (NYSE:BFLY) through its ARKG ETF, amounting to $61,299. This move continues a selling trend for Butterfly Network, as ARK has reduced its position in the company over the past few days.
Another notable divestiture was the sale of 1223 shares of VEEVA SYSTEMS INC (NYSE:VEEV) through the ARKG ETF, totaling $250,873. This trade comes after a smaller sale of VEEVA SYSTEMS shares the previous day, suggesting a gradual exit from this holding.
Materialise NV (NASDAQ:MTLS) also saw a reduction in ARK's investment, with the sale of 7215 shares through the ARKQ ETF, valued at $37,590. This follows a pattern of selling in Materialise NV shares over the past week.
Smaller transactions included the sale of 50 shares of MYNARIC AG (NASDAQ:MYNA) through the ARKX ETF for just $74, and 1078 shares of VUZIX CORP (NASDAQ:VUZI) split between the ARKQ and ARKW ETFs, with a combined total dollar value of $1,121.
Looking at the recent trading patterns, it's clear that ARK ETFs are making strategic adjustments to their portfolio, with a focus on companies they believe have strong future growth prospects. Investors and market watchers will be keen to see how these trades play out in the context of the broader market trends and the innovative sectors that Cathie Wood's funds are known for targeting.
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