Cathie Wood's ARK ETF published their daily trades for Wednesday, April 10th, 2024, showcasing a series of strategic buys and sells across various sectors. The trades indicate ARK's continued interest in health technology and aerospace innovation, with significant investments in companies like Teladoc Health Inc (NYSE:TDOC) and 10X Genomics Inc (NASDAQ:TXG).
The highest dollar-value trade for the day was ARK's purchase of 600,483 shares of Teladoc Health Inc, amounting to a substantial investment of $9,043,274. This move suggests a bullish stance on the telemedicine company, which has been a recurring interest for ARK, as evidenced by their consistent buying pattern over the past week.
Another notable trade was the acquisition of 93,252 shares of 10X Genomics Inc, valued at $3,484,827. The genomics company has been another regular feature in ARK's trading activity, indicating the fund's confidence in the growth potential of genomic solutions.
In the aerospace domain, ARK showed significant interest by buying 415,239 shares of Blade Air Mobility Inc (NASDAQ:BLDE) through the ARKX ETF, with a total dollar value of $1,602,822. Additionally, the fund continued to accumulate shares of Archer Aviation Inc (NYSE:NYSE:ACHR), adding 325,945 shares for a total of $1,395,044.
On the selling side, ARK divested from several companies, including a notable sell of 24,141 shares of Coinbase Global Inc (NASDAQ:COIN), which resulted in a reduction of $5,865,055 from their holdings. This move might reflect ARK's strategy to rebalance their portfolio in light of the fluctuating cryptocurrency market.
Other sales included 20,496 shares of Exact Sciences Corp (NASDAQ:EXAS), totaling $1,522,033, and 19,1538 shares of The 3D Printing ETF (BATS:PRNT), amounting to $4,332,072. These sales may indicate ARK's shifting focus or a response to market changes.
ARK also continued to adjust its holdings in smaller increments, with purchases of shares in companies like Iridium Communications Inc (NASDAQ:IRDM), Intellia Therapeutics Inc (NASDAQ:NTLA), and Palantir Technologies Inc (NYSE:NYSE:PLTR), as well as sales in Caterpillar Inc (NYSE:NYSE:CAT), Incyte Corp (NASDAQ:INCY), and UiPath Inc (NYSE:NYSE:PATH).
The day's trading activity reflects ARK's dynamic and responsive investment approach, with a clear focus on innovative companies poised for growth. As ARK continues to adjust its portfolio, investors and market watchers alike will be keen to follow these trades to gauge the fund's outlook on various sectors.
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