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