Cathie Wood's ARK ETFs have made notable adjustments to their investment portfolio on Friday, September 6th, 2024, with significant trades that may interest investors. The largest dollar-value trade for the day involved the purchase of 111,144 shares of Tempus AI Inc (NASDAQ:TEM), amounting to a hefty $6,182,940. This move demonstrates ARK's increasing interest in the artificial intelligence sector, particularly in companies that leverage AI for data-driven solutions.
On the sell side, ARK divested a total of 52,364 shares of Trade Desk Inc (NASDAQ:TTD), with the trade valued at $5,421,768. This sale is part of a recent trend where ARK has been reducing its holdings in the advertising technology company.
Another significant buy included 172,188 shares of Recursion Pharmaceuticals Inc (NASDAQ:RXRX), split across ARK's Innovation ETF (ARKK) and Genomic Revolution ETF (ARKG), with a combined value of $1,062,399. This follows a pattern of ARK bolstering its investment in the biotechnology firm, indicating confidence in the company's drug discovery platform.
In smaller transactions, ARK continued to add to its position in Blade Air Mobility Inc (NASDAQ:BLDE), buying 3,764 shares for $10,953. This purchase adds to the consistent accumulation of BLDE shares over the past week.
Conversely, ARK has been offloading shares of CareDx Inc (NASDAQ:CDNA), selling 9,489 shares for $257,436. This continues a sell-off trend from previous days. Similarly, ARK sold 81,492 shares of 908 Devices Inc. (NASDAQ:MASS) for $295,815, and 28,428 shares of Mynaric AG (NASDAQ:MYNA) for $23,029, both of which have been part of ARK's recent selling pattern.
ARK also reduced its stake in Vuzix Corp (NASDAQ:VUZI), selling a total of 344,037 shares valued at $337,156. This trade was distributed between the ARK Autonomous Technology & Robotics ETF (ARKQ) and the ARK Next Generation Internet ETF (ARKW), indicating a scaling back on their investment in the augmented reality company.
These trades reflect ARK's dynamic investment strategy and provide insights into the sectors and companies that the ETFs are currently focusing on. Investors tracking ARK's movements can observe a clear inclination towards innovative technologies, with a particular emphasis on AI, biotech, and mobility solutions, alongside a strategic reduction in certain tech and health care stocks.
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