ETFs
Cathie Wood’s ARK ETF Mixes Biotech, Sells Zoom and Exact Sciences Stocks By Investing.com
Cathie Wood’s ARK ETF has released its daily trades for Monday, June 3, 2024, showcasing a series of transactions that reflect the fund’s aggressive investment strategy. The day’s activities were dominated by a large purchase of 10X Genomics Inc (NASDAQ: TXG), with ARK acquiring 188,070 shares valued at approximately $4,216,529. The move highlights ARK’s continued confidence in the genomics sector and represents the largest transaction in terms of monetary value of the day.
In another large transaction, ARK ETFs purchased 167,686 shares of PagerDuty Inc (NYSE:) for a total of $3,181,003, indicating a bullish stance towards the cloud computing company . This follows a trend from the previous trading day, where ARK also added shares of PagerDuty, suggesting a strategic accumulation of the shares.
ARK ETFs also made notable purchases in Intellia Therapeutics Inc (NASDAQ:), with a total of 93,665 shares purchased, amounting to $2,002,557. This investment aligns with ARK’s known focus on innovative companies in the biotechnology space.
However, the trading day wasn’t all about acquisitions. ARK divested a significant portion of its holdings in Zoom Video Communications Inc (NASDAQ:), selling 51,293 shares worth a total of $3,146,312. Likewise, the fund sold 40,201 shares of Exact Sciences Corp (NASDAQ:) for approximately $1,827,135. These sales could indicate a change in ARK’s investment strategy or a response to market conditions.
Other purchases included Beam Therapeutics Inc (NASDAQ: BEAM), Adaptive Biotechnologies Corp (NASDAQ:) and Rocket Lab USA Inc (NASDAQ: RKLB), with ARK purchasing 25,214, 46,684 and 47,382 shares, respectively. These transactions, although of a lower monetary value than the main transactions, are part of ARK’s diversified investment approach.
The report also revealed smaller-scale purchases of Guardant Health Inc (NASDAQ:) and Markforged Holding Corp (NYSE: MKFG), as well as a sale of Verve Therapeutics Inc (NASDAQ: VERV) shares. These transactions, while small in comparison, contribute to the overall investment narrative of the moment.
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