Cathie Wood's ARK ETF disclosed their daily trades for Thursday, November 21st, 2024, with a notable emphasis on Tempus AI Inc (NYSE:TEM) and Exact Sciences Corp (NASDAQ:EXAS). In a significant move, ARK invested heavily in Tempus AI, purchasing 126,424 shares across its ARKK and ARKG ETFs, amounting to a substantial $7,351,555. This purchase represents the largest dollar-value trade by ARK for the day and underscores the fund's growing interest in the artificial intelligence-driven biotech company.
On the other side of the spectrum, ARK continued its recent trend of shedding positions in Exact Sciences, selling 7,515 shares through its ARKG ETF for a total value of $396,040. This followed a pattern observed over the past week, where ARK consistently reduced its holdings in the molecular diagnostics company.
Another significant sell-off included 140,573 shares of Standard BioTools Inc (NASDAQ:LAB), valued at $226,322, also through the ARKG ETF. This continued the trend from earlier in the week, indicating a strategic move away from the biotechnology tools provider.
In addition to these major trades, ARK engaged in smaller transactions, selling shares in Markforged Holding Corp (NYSE:MKFG), Moderna Inc (NASDAQ:BMV:MRNA), Repare Therapeutics Inc (NASDAQ:RPTX), and Unity Software Inc (NYSE:NYSE:U). These sales ranged from $3,361 to $62,403 in value, reflecting a diverse rebalancing across ARK's various ETFs.
Conversely, the fund showed a growing appetite for Twist Bioscience Corp (NASDAQ:TWST), acquiring 10,081 shares through its ARKK ETF, which amounted to $414,429. This purchase aligns with ARK's increased investment in the synthetic biology company seen in previous days.
The trades from the past week reveal ARK's dynamic portfolio management strategy, with a clear focus on innovative sectors such as artificial intelligence and biotechnology. Investors closely monitor the fund's daily trade reports to glean insights into Cathie Wood's investment strategy and the emerging trends that ARK is capitalizing on in the rapidly evolving tech and healthcare landscapes.
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