Cathie Wood's ARK ETF published their daily trades for Friday, August 30th, 2024, revealing a series of strategic moves within the fund's portfolio. Topping the list in terms of dollar value was the sale of TRADE DESK INC (NASDAQ:TTD) shares, amounting to a total of $9,367,344. This significant divestiture reflects ARK's shifting stance on the advertising technology company.
On the acquisition front, ARK's largest investment was in TEMPUS AI INC (NYSE:TEM), where the fund bought 133,854 shares, translating to $7,751,485 in total value. This purchase indicates ARK's growing confidence in the artificial intelligence company and its potential for disruption within its sector.
Another notable buy for ARK was in INTELLIA THERAPEUTICS INC (NASDAQ:NTLA), with the fund acquiring a total of 105,818 shares across its ARKK and ARKG ETFs, for a combined value of $2,433,814. This move suggests a continued bullish outlook on the gene-editing company, which has been a trend as ARK has consistently increased its position in NTLA over the past week.
In addition to these major trades, ARK also reported buying shares of ABSCI CORP (NASDAQ:ABSI) and BLADE AIR MOBILITY INC (NASDAQ:BLDE), with total values of $116,155 and $31,689, respectively. These investments are in line with ARK's strategy of supporting innovative companies in the biotech and transportation sectors.
On the selling side, alongside the substantial sell-off of TRADE DESK INC, ARK also reduced its holdings in CAREDX INC (NASDAQ:CDNA) by 40,191 shares, totaling $1,242,303. This sale indicates a pivot away from the molecular diagnostics company, which ARK had also sold off the previous day.
Other sales included smaller positions in 908 DEVICES INC. (NASDAQ:MASS), MYNARIC AG (NASDAQ:MYNA), VERACYTE INC (NASDAQ:VCYT), and VUZIX CORP (NASDAQ:VUZI), with dollar values ranging from $2,306 to $250,441.
Investors following Cathie Wood's ARK ETFs can discern a pattern of increased investment in companies at the forefront of AI and biotechnology, while the fund seems to be divesting from certain healthcare diagnostics and advertising technology stocks. As ARK continues to adjust its portfolio, these daily trades offer insights into the fund's strategic direction and the sectors it believes will lead the next wave of innovation.
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