Cathie Wood's ARK ETFs have disclosed their daily trades for Monday, September 30th, 2024, with a mix of buy and sell actions across various sectors. Today's trading activity saw a significant reshuffle in holdings, most notably with the sale of Rocket Lab USA Inc (NASDAQ:RKLB) and Butterfly Network Inc (NYSE:BFLY).
The largest transaction of the day was the sale of 36,141 shares of Rocket Lab USA Inc (NASDAQ:RKLB) by the ARKQ ETF, amounting to a total value of $353,458. This move comes amidst a series of divestments from the aerospace manufacturer, indicating a potential strategic shift for ARK's investment in the sector.
In a continued sell-off, ARK's ARKG ETF parted with 84,065 shares of Butterfly Network Inc (NYSE:BFLY), valued at $132,822. The medical imaging company has been on ARK's sell list consistently over the past week, suggesting a bearish outlook from the fund on Butterfly Network's prospects.
On the buying side, ARK showed increased interest in Blade Air Mobility Inc (NASDAQ:BLDE), purchasing a total of 74,266 shares across its ARKQ and ARKX ETFs for a combined value of $219,084. This follows a trend of accumulating BLDE stock, as seen in previous trades last week, signifying ARK's growing confidence in the urban air mobility service provider.
Materialise NV (NASDAQ:MTLS) also faced a reduction, with 21,447 shares sold by the ARKQ ETF for $114,526. This continues a pattern of sales for the 3D printing company, aligning with ARK's recent adjustments in the tech sector.
In smaller transactions, ARK slightly reduced its position in Vuzix Corp (NASDAQ:VUZI) by selling 400 shares through the ARKQ and ARKW ETFs, totaling a value of $463.
Investors and market watchers may interpret these trades as part of ARK's broader portfolio strategy, potentially reflecting Cathie Wood's outlook on the evolving market landscape. The consistent buy and sell patterns for certain stocks could indicate ARK's tactical adjustments in response to performance expectations and market trends.
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