Cathie Wood's ARK ETFs have made several notable trades on Wednesday, September 18, 2024, signaling strategic adjustments in their tech and healthcare-focused portfolios. In a series of transactions, ARK's ETFs engaged in both buying and selling activities, with the most significant sale being 32,772 shares of Palantir Technologies Inc (NYSE:PLTR) amounting to approximately $1.19 million.
On the buying side, ARK showed a continued interest in Tempus AI Inc (NYSE:TEM), purchasing 16,234 shares valued at nearly $799,199. This move indicates a growing trend as ARK has been steadily increasing its stake in the AI-driven company, having acquired a significant number of shares the previous week.
ARK also sold 47,38 shares of Veeva Systems Inc (NYSE:NYSE:VEEV), with the transaction valued at just over $1 million. This sale marks a notable reduction in their position in the cloud-computing company, which specializes in pharmaceutical and life sciences industry applications.
In other transactions, ARK reduced its holdings in Robinhood Markets Inc (NASDAQ:HOOD), selling 24,796 shares through its ARKF ETF for a total of $561,381. This move comes after a similar sell-off earlier in the week, suggesting a strategic shift away from the financial services company.
Butterfly Network Inc (NYSE:BFLY), a company that focuses on medical imaging technology, also saw a reduction in ARK's investment. The ARKG ETF sold 99,485 shares of BFLY, totaling $191,011.
On a smaller scale, ARK sold shares of Intuitive Surgical Inc (NASDAQ:ISRG), Materialise NV (NASDAQ:MTLS), and Mynaric AG (NASDAQ:MYNA), with total dollar values of $175,928, $65,216, and $6,447 respectively.
In a consistent pattern, ARK has been divesting from certain holdings while bolstering its position in others, such as 3D Systems Corp (NYSE:NYSE:DDD). The combined purchase of 52,677 DDD shares through ARKQ and ARKX ETFs, worth $138,013, aligns with previous days' accumulations, suggesting a bullish outlook on the 3D printing company.
Lastly, ARK's ETFs sold minor stakes in Roblox Corp (NYSE:RBLX) and Vuzix Corp (NASDAQ:VUZI), with sales totaling $513,843 and $8,797 respectively.
Investors and market watchers continue to keep a close eye on Cathie Wood's ARK ETFs for insights into the evolving strategies of one of the most closely followed fund managers in the technology and innovation sectors.
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