Cathie Wood's ARK ETFs have reported their daily trades for Monday, June 10th, 2024, with a significant sell-off of Robinhood Markets Inc (NASDAQ:HOOD) and purchases across a range of biotech and tech companies.
Leading the day's activity, ARK divested a substantial 323,801 shares of Robinhood Markets Inc (NASDAQ:HOOD), distributed across three of its funds: ARKK, ARKW, and ARKF. This move resulted in a cash inflow of approximately $7,181,906, marking the largest dollar-value transaction for the day.
In biotech, ARK showed a continued bullish stance on Arcturus Therapeutics (NASDAQ:ARCT) Holdings Inc (NASDAQ:ARCT), acquiring 58,363 shares through its ARKG ETF, amounting to a $1,857,110 investment. This follows a similar purchase pattern from last Friday, signaling a strengthening position in the company's portfolio.
Beam Therapeutics Inc (NASDAQ:BEAM) saw a modest increase in ARK's holdings, with 797 shares added through the ARKK ETF, corresponding to a value of $18,498. This trade comes after a series of purchases over the past week, indicating a growing interest in the gene editing company.
Exact Sciences Corp (NASDAQ:EXAS) faced a sell-off from ARK, with a total of 100,687 shares sold across ARKK and ARKG ETFs, totaling $4,322,492. This continues a trend of reducing exposure to the company observed in recent trading days.
Intellia Therapeutics Inc (NASDAQ:NTLA) received a boost from ARK, which bought 46,828 shares through ARKK and ARKG ETFs, injecting $1,064,400 into the gene editing firm. This purchase aligns with ARK's pattern of accumulating Intellia shares, suggesting a strong conviction in the company's long-term prospects.
PagerDuty Inc (NYSE:NYSE:PD) also saw an infusion of capital, with ARK purchasing 14,294 shares split between ARKK and ARKW ETFs, valued at $281,734. This follows a substantial investment in the company last Friday, reinforcing ARK's commitment to the digital operations management platform.
In the diagnostics space, Veracyte Inc (NASDAQ:VCYT) attracted ARK's attention, with a total of 31,686 shares bought across ARKK and ARKG ETFs, translating to a $654,315 investment. This trade builds on a previous acquisition, suggesting a positive outlook on the company.
Lastly, ARK reduced its stake in Teladoc Health Inc (NYSE:NYSE:TDOC) by selling 171,731 shares through its ARKG ETF, amounting to $1,827,217, and in Verve Therapeutics Inc (NASDAQ:VERV), selling 151,646 shares across ARKK and ARKG ETFs for a total value of $790,075. Both actions are part of a broader selling trend in these stocks over recent sessions.
Investors following ARK's trades will note the ETF's active management and shifting positions, particularly the consistent interest in biotechnology stocks and the strategic divestment from certain healthcare and tech companies.
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