Cathie Wood's ARK ETFs have once again adjusted their portfolios on Wednesday, 22 May 2024, with a notable acquisition of shares in Adaptive Biotechnologies Corp (NASDAQ:ADPT) and a minor sale in the ARK 21Shares Active Bitcoin Futures Strategy ETF (BATS:ARKA).
The largest transaction of the day involved ARK's Genomic Revolution ETF (ARKG) purchasing 93,850 shares of Adaptive Biotechnologies Corp, amounting to a total value of $327,536. This move adds to ARK's recent accumulation trend of ADPT, following substantial purchases of the company's stock over the past week.
In a smaller transaction, ARK's Next Generation Internet ETF (ARKW) sold 394 shares of the ARK 21Shares Active Bitcoin Futures Strategy ETF, totaling $923. This sale reflects a continued trimming of ARKA holdings, which has been observed over the past few trading sessions.
Reviewing ARK's trading behavior over the last week reveals a strategic pattern. The firm has consistently reduced its position in Robinhood Markets Inc (NASDAQ:HOOD), with sales across multiple days culminating in a significant reduction of ARK's exposure to the stock. Similarly, ARK has been divesting from Teladoc Health Inc (NYSE:NYSE:TDOC), with substantial sales across its ARKK and ARKG ETFs.
Conversely, ARK has shown a growing interest in genomics and biotech stocks. In addition to the recent purchases of Adaptive Biotechnologies, ARK has increased its holdings in CRISPR Therapeutics AG (NASDAQ:CRSP) and Intellia Therapeutics Inc (NASDAQ:NTLA), indicating a bullish stance on the genomic editing sector.
Other notable trades over the past week include the buying of shares in Shopify Inc (NYSE:NYSE:SHOP) and Advanced Micro Devices Inc (NASDAQ:AMD), highlighting ARK's confidence in these companies' growth potential.
Investors and market watchers alike pay close attention to Cathie Wood's ARK ETFs' trading moves, as they often reflect broader investment themes and strategies that can impact market dynamics. As always, ARK's daily trade reports provide valuable insights into the firm's market outlook and strategic shifts.
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