Cathie Wood's ARK ETF posted daily trades for Tuesday, December 24, 2024, with a large focus on the technology and biotechnology sectors. The largest trade of the day involved the purchase of 269,976 shares of GitLab Inc (NASDAQ:GTLB) stock through ARK's flagship ARKK ETF, valued at a staggering $16,201,259. This purchase continues ARK's recent trend, as they have accumulated GitLab shares since last week, indicating strong confidence in the company's growth potential.
ARK's last notable purchase was in CRISPR Therapeutics AG (NASDAQ:CRSP), where it acquired a total of 35,598 shares across two ETFs, ARKK and ARKG, for a total value of $1,441,007. The move adds to ARK's position in the gene editing company, reflecting continued interest in the field of genomics.
On the sell side, ARK divested a significant portion of its holdings in Tesla Inc (NASDAQ:), selling 18,847 shares through the ARKK ETF for a total of $8,115,518. This follows a pattern of selling off Tesla shares over the past week, suggesting a strategic reduction in ARK's exposure to the electric vehicle giant.
Palantir Technologies Inc (NYSE:NASDAQ:) and Block Inc (NYSE:SQ) also saw selling, with ARK parting ways with 42,293 and 23,962 shares respectively, for a total of $3,412,622 and $2,139,567. These sales continue a trend of ARK offloading shares in these companies, signaling a potential shift in its investment strategy.
Additionally, ARK sold 50,163 shares of its own stock Adaptive Biotechnology Corporation (NASDAQ:) from the ARKG ETF with $317,030 and 4,600 shares. Verasite Corporation (NASDAQ:) from the same ETF, for a total of $188,554.
ARK's investment moves were rounded off with the purchase of 53,371 shares 10X Genomics Company (NASDAQ:) split between the ARKK and ARKG ETFs, $786,154. This adds to their purchases of Genomics 10X shares from the previous week, suggesting that ARK is bullish on the company's long-term prospects.
Investors who follow Cathie Wood's ARK ETFs should note these transactions as part of the fund's dynamic investing approach, which often includes high-conviction moves into innovative companies. As always, these deals provide insights into ARK's market outlook and the sectors they believe are poised for future growth.
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