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Cathie Wood's ARK ETF shifts focus, buys RBRK and RXRX stock

Published 22/08/2024, 14:18
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BRKR
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Cathie Wood's ARK ETFs have made significant trades on Wednesday, August 21, 2024, with particular emphasis on tech and healthcare sectors. The largest transaction of the day involved the purchase of 72,253 shares of Rubrik Inc (NASDAQ:RBRK) through its ARKW ETF, valued at approximately $2,627,119. This purchase underscores ARK's focus on the data management company, which has seen growing attention from the investment fund.

Another notable buy was the acquisition of 237,342 shares of Recursion Pharmaceuticals Inc (NASDAQ:RXRX) spread across its ARKK and ARKG ETFs, totaling $1,808,546. This move indicates a continued bullish stance on the biotechnology firm, which ARK has been accumulating over recent days.

On the sales side, ARK divested a substantial number of shares in Unity Software Inc (NYSE:U), selling 227,978 shares across its ARKK and ARKW ETFs, resulting in a total dollar value of $3,944,019. This represents the largest sell by dollar value in the day's trading activity.

The second-largest sale involved UiPath Inc (NYSE:PATH), with ARK offloading 235,593 shares through its ARKK and ARKF ETFs, amounting to $2,886,014. This continues a trend seen in previous days where ARK has been reducing its position in the automation software company.

Other sales included a reduction in positions in Teladoc Health Inc (NYSE:TDOC), Verve Therapeutics Inc (NASDAQ:VERV), and Intuit Inc (NASDAQ:INTU), with total dollar values of $1,462,716, $510,730, and $670,489, respectively.

On the smaller end of the scale, ARK made minor adjustments by selling shares in companies like 908 Devices Inc (NASDAQ:MASS), Materialise NV (NASDAQ:MTLS), and Zoom Video Communications Inc (NASDAQ:ZM), with respective total dollar values of $74,284, $23,914, and $30,114.

Investors following ARK's movements will note the continued interest in companies like Intellia Therapeutics Inc (NASDAQ:NTLA) and Roblox Corp (NYSE:RBLX), with purchases of 61,186 and 12,657 shares, respectively. This consistent buying pattern suggests a strategic accumulation of shares in these entities.

In summary, Cathie Wood's ARK ETFs have made significant trades with a clear focus on the technology and healthcare sectors, balancing their portfolio with key buys in companies like Rubrik Inc and Recursion Pharmaceuticals, while taking profits and reducing exposure in others like Unity Software and UiPath. The daily trade report reflects ARK's dynamic and responsive investment strategy in a rapidly changing market landscape.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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