Cathie Wood's ARK ETF disclosed their daily trades for Tuesday, December 10th, 2024, revealing a continuation of its recent selling pattern with a focus on Markforged Holding Corp (NYSE:MKFG). The innovation-focused investment firm, known for its concentration on disruptive technologies, offloaded a modest total of 50 shares of Markforged through its ARKQ ETF, valued at $215. This move follows a series of sales in the previous week involving the same company, suggesting a strategic reduction in ARK's position.
Looking back at ARK's trading activity since last week, there is a notable trend in the reduction of its holdings in Markforged. On Monday, ARK sold 414 shares across its ARKQ and ARKX (NYSE:ARKX) ETFs, while on Tuesday of the previous week, it sold 545 shares. This gradual sell-off indicates a consistent trimming of ARK's investment in the 3D printing company.
The past trade data also highlights ARK's divestment from Senti Biosciences Inc (NASDAQ:SNTI) and Butterfly Network Inc (NYSE:BFLY), with substantial sales recorded on Friday, December 6th. In contrast, ARK has been accumulating shares of Tempus AI Inc (NASDAQ:TEM) and Absci Corp (NASDAQ:ABSI), as evidenced by significant purchases throughout the past week.
The most substantial trade from the previous week was ARK's purchase of 84,045 shares of Tempus AI, a company specializing in artificial intelligence for healthcare, through its ARKK and ARKG ETFs, amounting to a notable investment of over $4.2 million. This investment demonstrates ARK's bullish stance on the potential of AI in revolutionizing the healthcare industry.
In summary, while Tuesday's trading activity was relatively quiet with a single trade, the pattern of ARK's transactions over the past week paints a clear picture of the firm's strategic shifts. Investors following Cathie Wood's ARK ETFs should note the continued interest in AI healthcare technologies and the gradual distancing from certain holdings, which could signal a recalibration of ARK's innovative investment approach.
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