Cathie Wood's ARK ETFs made notable moves in the stock market on Thursday, 20 June 2024, with significant trades that may interest investors. The ARK funds, known for their focus on innovative and disruptive technologies, have once again adjusted their holdings, reflecting Wood's ongoing strategy to capitalize on market trends and future growth opportunities.
The most substantial transaction of the day came from ARK's Genomic Revolution ETF (ARKG), which purchased a total of 304,904 shares of TEMPUS AI INC (NASDAQ:TEM), amounting to a hefty dollar value of $9,247,738. This move indicates a strong belief in the potential of Tempus AI's data-driven approach to revolutionizing the healthcare industry.
In contrast, ARK's most significant sale involved TELADOC HEALTH INC (NYSE:TDOC), with a divestment of 541,856 shares spread across its ARKK and ARKG ETFs, resulting in a total sale value of $5,467,327. This sale continues a pattern of reducing exposure to Teladoc (NYSE:TDOC), which has been observed over the past week.
Another major trade included the sale of 164,318 shares of EXACT SCIENCES CORP (NASDAQ:EXAS) through ARKG, totaling $6,888,210. This action is a continuation of ARK's selling trend in Exact Sciences (NASDAQ:EXAS), which began last week.
On the buying side, ARK's flagship ETF (ARKK) and its Next Generation Internet ETF (ARKW) collectively added 108,134 shares of PAGERDUTY INC (NYSE:PD), valued at $2,281,627. This purchase aligns with previous trades, demonstrating ARK's growing interest in PagerDuty (NYSE:PD)'s cloud computing services.
The ARKK ETF also increased its stake in ROKU INC (NASDAQ:ROKU) by acquiring 30,780 shares, with a total investment of $1,616,873. This move comes amidst a volatile period for streaming device companies but suggests confidence in Roku (NASDAQ:ROKU)'s long-term prospects.
In smaller transactions, ARK bought shares in ABSCI CORP (NASDAQ:ABSI) and ARCTURUS THERAPEUTICS HOLDINGS INC (NASDAQ:ARCT) through ARKG, with dollar values of $911,345 and $972,928, respectively. Additionally, MARKFORGED HOLDING CORP (NYSE:MKFG) saw a combined purchase of 21,862 shares across ARKQ and ARKX ETFs, totaling a modest $9,400.
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