Cathie Wood's ARK ETFs published their daily trades for Wednesday, December 4th, 2024, revealing a continued interest in biotech with significant trades in several companies. The most substantial trade was the purchase of 137,850 shares of Absci Corp (NASDAQ:ABSI) through the ARK Genomic Revolution ETF (ARKG), totaling approximately $412,171. This move builds on ARK's recent buying trend in ABSI, with substantial purchases made in the preceding days.
In contrast, ARK offloaded 99,286 shares of Butterfly Network (LON:NETW) Inc (NYSE:BFLY), also through ARKG, amounting to $328,636. This sale is part of a selling pattern observed over the last week, indicating a potential shift in ARK's investment strategy regarding BFLY. Another sale was made in Senti Biosciences Inc (NASDAQ:SNTI), with 5,950 shares sold for a total of $42,482, continuing a series of sales in the company's stock.
ARK's trading activity over the past week has shown a clear interest in certain sectors and companies. The consistent accumulation of shares in Absci Corp suggests a strong conviction in the company's long-term potential. At the same time, the repeated sales of Butterfly Network and Senti Biosciences may reflect ARK's reassessment of these positions.
In addition to the trades mentioned, ARK's previous transactions have included buying and selling across a diverse range of companies, such as Pacific Biosciences (NASDAQ:PACB) of California Inc (NASDAQ:PACB), Advanced Micro Devices Inc (NASDAQ:AMD), and Teradyne Inc (NASDAQ:TER), showcasing the dynamic and responsive nature of their investment approach.
Investors and market watchers often scrutinize ARK's daily trades for insights into the investment firm's strategy, particularly given Cathie Wood's high-profile status and the firm's focus on disruptive innovation. As the markets continue to evolve, it will be interesting to observe how ARK's positions change in response to emerging trends and opportunities.
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