In the world of exchange-traded funds, Cathie Wood's ARK ETFs stand out for their focus on disruptive innovation. The latest daily trades for Friday, 05 July 2024, indicate a continued interest in the biotech sector, with significant purchases and sales that may interest investors.
Topping the list with the highest dollar-value trade, ARK invested $1,518,073 in Intellia Therapeutics Inc (NASDAQ:NTLA), acquiring a total of 66,147 shares across its ARKK and ARKG ETFs. This move underscores ARK's growing stake in the gene-editing company, aligning with previous days' activities that have seen consistent buying.
On the other end of the spectrum, ARK sold 3,577 shares of the electric vehicle giant Tesla Inc (NASDAQ:TSLA) through its ARKW ETF, totaling $881,337. This sale is part of a trend, as ARK has been reducing its position in Tesla over the past few days.
Another significant transaction involved Recursion Pharmaceuticals Inc (NASDAQ:RXRX), where ARK bought 133,655 shares for a total of $982,364. This is a continuation of ARK's bullish stance on the computational biology company, evidenced by substantial purchases in the previous sessions.
In the genomic space, ARK's ARKG ETF bought 12,566 shares of AbSci Corp (NASDAQ:ABSI) for $39,959, a smaller-scale investment that still signals interest in the protein printing company.
Pacific Biosciences (NASDAQ:PACB) of California Inc (NASDAQ:PACB) also saw increased attention, with ARK purchasing 157,894 shares for $205,262 across both ARKK and ARKG ETFs, suggesting a positive outlook on the DNA sequencing company's prospects.
However, not all trades were bullish. ARK sold 9,070 shares of Incyte Corp (NASDAQ:INCY) for $522,976 and 7,6330 shares of Verve Therapeutics Inc (NASDAQ:VERV) for $392,336, indicating a pivot away from these stocks.
A smaller sale involved AeroVironment Inc (NASDAQ:AVAV), with ARK parting ways with 1,967 shares for $334,999. This follows a pattern of selling the unmanned aircraft systems manufacturer's stock in recent days.
These trades reflect ARK's dynamic investment strategy, focusing on companies poised to benefit from technological breakthroughs while adjusting their holdings in response to market conditions and company performance. Investors following ARK's ETFs may find these moves indicative of the fund's broader investment thesis, which centers on disruptive innovation across various sectors.
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