Cathie Wood's ARK ETF published their daily trades for Wednesday, December 18th, 2024, revealing significant activity across a range of holdings. The largest dollar-value trade came from the sale of Tesla Inc (NASDAQ:TSLA) shares, with ARK parting with 20,582 shares for a total value of approximately $9.9 million. This sale continues a recent trend for ARK, which has been reducing its Tesla holdings over the past week.
In contrast, ARK showed a growing interest in Tempus AI Inc (NYSE:TEM), acquiring 335,664 shares valued at around $13.1 million. This follows a consistent pattern of buying into Tempus AI, indicating a strong conviction in the company's prospects.
ARK also executed a significant sale of Coinbase Global Inc (NASDAQ:COIN), offloading 13,780 shares with a total value of nearly $4.3 million. This move comes amidst a backdrop of fluctuating sentiment in the cryptocurrency market, which may have influenced ARK's decision to reduce its position.
On the buying front, ARK increased its stake in Futu Holdings Ltd (NASDAQ:FUTU), purchasing 70,585 shares for approximately $6.1 million. This trade aligns with ARK's strategy of investing in innovative fintech companies.
Another notable buy was Beam Therapeutics Inc (NASDAQ:BEAM), with ARK acquiring 116,119 shares across its ETFs, totaling a value of over $3.3 million. This investment suggests ARK's ongoing interest in cutting-edge biotech firms specializing in gene editing.
Smaller but still significant trades included the purchase of shares in Pacific Biosciences (NASDAQ:PACB) of California Inc (NASDAQ:PACB), Personalis Inc (NASDAQ:PSNL), and Intellia Therapeutics Inc (NASDAQ:NTLA), as well as the sale of Adaptive Biotechnologies Corp (NASDAQ:ADPT), Ionis Pharmaceuticals Inc (NASDAQ:IONS), Shopify Inc (NYSE:NYSE:SHOP), and Veeva Systems Inc (NYSE:NYSE:VEEV).
Overall, ARK's trades for the day reflect a strategic balance between taking profits in certain holdings and reinforcing positions in companies that align with their investment thesis on innovation and disruptive technology. Investors following ARK's movements will note the ETF's continued focus on genomic and biotech stocks, alongside a cautious approach to more volatile sectors like cryptocurrency.
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