Cathie Wood's ARK ETF published their daily trades for Friday, May 10th, 2024, showcasing a series of strategic moves in the biotech and tech sectors. The most significant trade of the day was the sale of 382,215 shares of EXACT SCIENCES CORP (NASDAQ:EXAS), valued at approximately $20.7 million. This move marks a continuation of ARK's recent trend of reducing its position in the company, following a larger sale just the day before.
Another notable transaction was the sale of 6,146 shares of AEROVIRONMENT INC (NASDAQ:AVAV), split between ARKQ and ARKX ETFs, amounting to over $1.1 million. This trade adds to a series of sales in the preceding days, signaling a consistent offloading of AeroVironment (NASDAQ:AVAV) stock by ARK.
In contrast to these sales, ARK's largest purchase involved 12,831,928 shares of GINKGO BIOWORKS HOLDINGS INC (NYSE:DNA) across ARKK and ARKG ETFs, with a total dollar value exceeding $11.8 million. This acquisition indicates a bullish stance on the biotech company, reinforcing ARK's interest in the sector.
ARK also significantly increased its holdings in CRISPR THERAPEUTICS AG (NASDAQ:CRSP) by buying 88,182 shares, distributed between ARKK and ARKG ETFs, for a total of nearly $4.7 million. This purchase aligns with the recent pattern of accumulating CRSP shares, suggesting a strong conviction in the company's growth prospects.
Other purchases included 243,893 shares of INTELLIA THERAPEUTICS INC (NASDAQ:NTLA) worth around $6 million, and 526,148 shares of RECURSION PHARMACEUTICALS INC (NASDAQ:RXRX) valued at approximately $4.5 million. Both transactions continue to highlight ARK's focus on the biotechnology space.
Smaller but still significant buys were made in companies like ROBLOX CORP (NYSE:RBLX), ROCKET LAB USA INC (NASDAQ:RKLB), and PACIFIC BIOSCIENCES OF CALIFORNIA INC (NASDAQ:PACB), among others. These trades, while less substantial in dollar value compared to the aforementioned companies, contribute to the diverse portfolio strategy of ARK ETFs.
ARK's trading activity concluded with lesser sales, including shares of KRATOS DEFENSE AND SECURITY SOLUTIONS INC (NASDAQ:KTOS), VERVE THERAPEUTICS INC (NASDAQ:VERV), and VELO3D INC (NYSE:VLD), with the sale of ZOOM VIDEO COMMUNICATIONS INC (NASDAQ:ZM) shares standing out at a value of $5.5 million.
Investors and market observers continue to monitor ARK's daily trades for insights into Cathie Wood's investment strategy and the potential growth trajectories of the involved companies.
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