Cathie Wood's ARK ETF published their daily trades for Monday, June 3rd, 2024, showcasing a series of transactions that reflect the fund's dynamic investment strategy. Leading the day's activities was a substantial buy in 10X Genomics Inc (NASDAQ:TXG), with ARK acquiring 188070 shares valued at approximately $4,216,529. This move underscores ARK's continued confidence in the genomics sector and represents the largest dollar-value trade of the day.
In another significant transaction, ARK's ETFs purchased 167686 shares of PagerDuty Inc (NYSE:PD) for a total of $3,181,003, indicating a bullish stance on the cloud computing company. This follows a trend from the previous trading day, where ARK also added shares of PagerDuty, suggesting a strategic accumulation of the stock.
ARK's ETFs also made notable buys in Intellia Therapeutics Inc (NASDAQ:NTLA), with a total of 93665 shares bought, amounting to $2,002,557. This investment aligns with ARK's known focus on innovative companies in the biotechnology space.
However, the trading day wasn't solely about acquisitions. ARK divested a significant portion of its holdings in Zoom Video Communications Inc (NASDAQ:ZM), selling 51293 shares with a total value of $3,146,312. Similarly, the fund sold 40201 shares of Exact Sciences Corp (NASDAQ:EXAS) for approximately $1,827,135. These sales could indicate a shift in ARK's investment strategy or a response to market conditions.
Other purchases included Beam Therapeutics Inc (NASDAQ:BEAM), Adaptive Biotechnologies Corp (NASDAQ:ADPT), and Rocket Lab USA Inc (NASDAQ:RKLB), with ARK buying 25214, 46684, and 47382 shares, respectively. These trades, while smaller in dollar value compared to the leading transactions, are part of ARK's diversified investment approach.
The report also revealed smaller-scale buys in Guardant Health Inc (NASDAQ:GH) and Markforged Holding Corp (NYSE:MKFG), as well as a sale of Verve Therapeutics Inc (NASDAQ:VERV) shares. These trades, although modest in comparison, contribute to the overall investment narrative of the day.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.