Cathie Wood's ARK ETFs have made their daily trades public for Wednesday, October 2nd, 2024, showcasing a mix of strategic buys and sells across a variety of sectors. Leading the activity was a significant buy in Tempus AI Inc (NASDAQ:TEM), where ARK's ARKK ETF added 9222 shares, amounting to a notable $489,411. This move underscores ARK's growing interest in the artificial intelligence sector, as it adds to its position following a larger purchase of 61157 shares on September 25th, 2024.
In the realm of aerospace, ARK has continued to build its stake in Blade Air Mobility Inc (NASDAQ:BLDE), buying an additional 12717 shares split between its ARKQ and ARKX ETFs, totaling $38,786. This follows a pattern of consistent accumulation over the past week, including a purchase of 44128 shares on October 1st and 74266 shares on September 30th, highlighting ARK's bullish stance on the urban air mobility company.
Another area of focus for ARK was 3D printing, with the ARKQ ETF purchasing 1551 shares of 3D Systems Corp (NYSE:NYSE:DDD) for $4,141. This trade comes on the heels of a more significant acquisition of 98555 shares on October 1st, suggesting a growing conviction in the future of 3D printing technology.
On the selling side, ARK reduced its exposure to aerospace manufacturer Rocket Lab USA Inc (NASDAQ:RKLB), offloading 3916 shares through its ARKQ ETF, which equated to $36,144. This sale is part of a continued trend, as ARK sold 1257 shares on October 1st and a substantial 36141 shares on September 30th.
Another notable sale was in the semiconductor industry, where ARK's ARKQ ETF sold 419 shares of Taiwan Semiconductor Manufacturing Co Ltd (NYSE:TSM), totaling $72,097. This follows a previous sale of 1096 shares on October 1st, signaling a potential strategy shift away from the semiconductor giant.
Investors and market watchers alike keep a close eye on Cathie Wood's ARK ETFs for their forward-thinking investment strategies, and today's trades offer a glimpse into the areas ARK believes hold promise for the future. While ARK's daily trades provide immediate insights, the developing trends over time are often of greater significance, reflecting ARK's long-term convictions.
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