Cathie Wood’s ARK ETFs have revealed their daily trades for Tuesday, December 31st, 2024, with some notable shifts in their investment portfolio. The most significant move of the day was the sale of Tesla Inc (NASDAQ:TSLA) stock, with a total of 152,694 shares offloaded for a value of $63,736,003. This trade marked a continuation of ARK’s recent pattern of reducing its stake in the electric vehicle giant.
On the acquisition front, ARK showed a strong appetite for tech stocks, making substantial purchases in Advanced Micro Devices Inc (NASDAQ:AMD) and GitLab Inc (NASDAQ:GTLB). ARK bought a combined 82,456 shares of AMD across its ARKK and ARKQ ETFs, totaling a value of $10,095,912. GitLab saw an even larger investment with 245,243 shares acquired through the ARKK ETF, amounting to $13,848,872 in total value. This purchase further builds on ARK’s growing position in the DevOps platform provider, following a trend of accumulation over the past week.
Other significant buys included Amazon.com Inc (NASDAQ:AMZN), with 15,301 shares added for $3,386,111, and Teradyne Inc (NASDAQ:TER), where ARK picked up 109,301 shares, resulting in a $13,848,436 investment. Both of these trades were conducted through the ARKQ ETF. Additionally, ARK’s interest in the healthcare sector was evident with the purchase of 78,536 shares of Illumina Inc (NASDAQ:ILMN) and 61,913 shares of Natera Inc (NASDAQ:NTRA), although the dollar values for these transactions were not disclosed.
In the industrial sector, BWX Technologies Inc (NYSE:NYSE:BWXT) saw an influx of ARK funds with 12,890 shares bought for $1,445,742. Meanwhile, the ARKQ ETF also took a position in 3D Systems Corp (NYSE:NYSE:DDD), acquiring 250,000 shares at a value of $819,999.
Smaller trades included a buy of 47,758 shares of 10X Genomics Inc (NASDAQ:TXG) for $685,327 and a sell of 17,436 shares of Adaptive Biotechnologies Corp (NASDAQ:ADPT) for $106,533. The sale of Adaptive Biotechnologies continues the trend from previous days, where ARK has been consistently reducing its holdings in the biotech company.
Investors following ARK’s ETFs will note the strategic shifts in the fund’s focus, with a clear inclination towards tech and healthcare stocks, while cautiously trimming positions in certain high-profile companies like Tesla. As the year comes to a close, ARK’s trading activity provides insights into Cathie Wood’s vision for the fund’s direction heading into the new year.
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