Nucor earnings beat by $0.08, revenue fell short of estimates
In the latest financial maneuverings of Cathie Wood's ARK ETF, the fund has made significant trades today, Friday, November 8, 2024, continuing its trend of active management. Leading the charge in today's transactions is the purchase of 52,101 shares of Trade Desk Inc (NASDAQ:TTD), with a total dollar value of $6,904,945. This move is complemented by a substantial acquisition of 91,460 shares of CRISPR Therapeutics AG (NASDAQ:CRSP), amounting to $4,744,944 in total trade value.
ARK's strategy did not solely focus on stock purchases. The fund has notably divested a significant portion of its holdings in Unity Software Inc (NYSE:NYSE:U), selling 551,739 shares with the trade valued at a substantial $12,254,122. This sale marks a continuation of a selling trend for Unity stock, reflecting a possible strategic shift by the fund.
In addition to these major trades, ARK has also increased its stake in Pacific Biosciences (NASDAQ:PACB) of California Inc (NASDAQ:PACB) by buying 1,250,761 shares, valued at $3,064,364, and in Natera Inc (NASDAQ:NTRA), with a purchase of 6,863 shares totaling $894,866. These purchases might indicate a growing confidence in the genomics sector, which ARK has been known to favor.
On the sell side, ARK has reduced its exposure to Moderna Inc (NASDAQ:BMV:MRNA) by selling 43,810 shares, totaling $2,202,766. This follows a pattern of selling the biotech company's shares in recent days. Similarly, smaller sell-offs occurred with Materialise NV (NASDAQ:MTLS) and Repare Therapeutics Inc (NASDAQ:RPTX), with ARK parting with 2,273 and 5,557 shares at values of $14,342 and $19,393, respectively.
ARK's trading activity extends beyond these larger transactions. The fund has also bought smaller amounts of Arcturus Therapeutics (NASDAQ:ARCT) Holdings Inc (NASDAQ:ARCT), Guardant Health Inc (NASDAQ:GH), and Twist Bioscience Corp (NASDAQ:TWST), with respective values of $74,922, $337,933, and $508,503. The consistent buying of CRISPR Therapeutics AG and Pacific Biosciences of California Inc over the past days suggests a strategic accumulation of shares in these companies.
The ARK ETF's daily trading reports provide a window into the investment strategies of one of the most closely watched fund managers in the market. Investors and market analysts alike scrutinize these trades to gauge the fund's outlook on various sectors and individual stocks. As always, these trades reflect the dynamic and ever-evolving investment approach that Cathie Wood's ARK ETF is known for.
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