Cathie Wood's ARK ETFs have made their latest round of daily trades for Tuesday, April 16th, 2024, reflecting a continued strategy of dynamic portfolio adjustments. The most significant transaction of the day involved the sale of DraftKings Inc (NASDAQ:DKNG) shares, with a total of 285,524 shares sold across the ARKK and ARKW ETFs, amounting to a substantial $12,483,109 in value. This move represents ARK's largest trade by dollar value for the day, and it continues a recent trend of reducing their position in the online sports betting company.
Following DraftKings in trade size was a notable sale of Caterpillar Inc (NYSE:NYSE:CAT) stock, with ARKQ ETF letting go of 3,436 shares for a total of $1,250,394. This transaction stands out as ARK's second-largest trade of the day.
On the purchase side, ARK showed a bullish stance on Tesla Inc (NASDAQ:TSLA), acquiring a total of 20,683 shares through three different ETFs (ARKK, ARKQ, and ARKW), which amounted to a considerable investment of $3,339,890. This buying activity is part of a recent pattern, as ARK has been accumulating shares of the electric vehicle giant over the past week.
In addition, ARK continued to invest in the future of urban air mobility by buying 78,112 shares of Blade Air Mobility Inc (NASDAQ:BLDE) through its ARKX ETF for a total value of $299,168. This follows a consistent pattern of investment in BLDE, as ARK has been actively increasing its stake in the company over the past several trading sessions.
Other trades included the purchase of 58,243 shares of Personalis Inc (NASDAQ:PSNL) through the ARKG ETF, valued at $73,386. This biotechnology company has been another regular feature in ARK's recent buy lists, indicating a growing interest in the genomics sector.
The ARK ETFs are known for their active management and focus on disruptive innovation, and these daily trades provide investors with insights into the fund's strategic shifts and sector bets. As always, investors are encouraged to consider these trades within the context of their broader investment strategy and market trends.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.