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Cathie Wood's ARK ETF reported its latest round of daily trades for Friday, August 16, 2024, showcasing a pattern of strategic buy and sell moves across various sectors. In a significant transaction, ARK sold 354,038 shares of CAREDX INC (NASDAQ:CDNA) through its ARKG ETF, with a total dollar value of $10,036,977, marking the largest trade of the day by value. This sale follows a trend as ARK has been reducing its position in CareDx (NASDAQ:CDNA) over the previous days.
Conversely, ARK demonstrated a bullish stance on RECURSION PHARMACEUTICALS INC (NASDAQ:RXRX) by purchasing 1,091,909 shares through its ARKG ETF, amounting to $7,304,871. This acquisition is part of a continuing accumulation, as the fund has consistently increased its holdings in Recursion Pharmaceuticals throughout the past week.
In addition to these major trades, ARK also bought 35,196 shares of INTELLIA THERAPEUTICS INC (NASDAQ:NTLA) for $804,932 and 17,741 shares of ARCTURUS THERAPEUTICS HOLDINGS INC (NASDAQ:ARCT) totaling $359,432, both through its ARKG ETF. Notably, ARK has been steadily adding to its stake in Arcturus Therapeutics (NASDAQ:ARCT) over the past few days, suggesting a growing confidence in the biotechnology company.
On the sell side, ARK divested from several other companies. It sold 6,943 shares of MATERIALISE NV (NASDAQ:MTLS) at $37,492, 2,013 shares of SPOTIFY TECHNOLOGY SA (NYSE:SPOT) valued at $675,542, and 136,087 shares of TELADOC HEALTH INC (NYSE:TDOC) totaling $960,774, which were distributed between its ARKK and ARKG ETFs. Additionally, 380,286 shares of VERVE THERAPEUTICS INC (NASDAQ:VERV) were sold for $1,726,498, and 169,894 shares of VUZIX CORP (NASDAQ:VUZI) were let go for a total of $145,938, with the transactions spread across the ARKQ and ARKW ETFs.
These trades reflect ARK's active management strategy and its continuous rebalancing of the ETF portfolios. Investors following Cathie Wood's ARK ETFs are witnessing a dynamic approach to investing, with the fund's decisions providing insights into their market outlook and investment theses.
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