Cathie Wood's ARK ETFs have made their daily trades for Wednesday, May 15th, 2024, showcasing a mix of strategic buy and sell decisions across various sectors. The trades reveal ARK's ongoing adjustments to its investment portfolios, with significant moves in the tech and biotech spaces.
Topping the list with the largest dollar-value trade, ARK purchased 50,012 shares of ROBLOX CORP (NYSE:RBLX), split across three ETFs: 38,764 through ARKK, 8,498 through ARKW, and 2,750 through ARKF, totaling $1,583,379. This move indicates ARK's increasing confidence in the gaming platform, which has seen a consistent accumulation of shares over the past week.
In the biotech sector, ARK bought 49,253 shares of INTELLIA THERAPEUTICS INC (NASDAQ:NTLA), with 40,402 shares acquired through ARKK and 8,851 through ARKG, amounting to $1,267,279. This purchase aligns with ARK's trend of bolstering its position in Intellia, a company at the forefront of CRISPR gene-editing technology, over recent days.
Another notable buy was 16,551 shares of IRIDIUM COMMUNICATIONS INC (NASDAQ:IRDM) through the ARKX ETF, with a total value of $501,164. This follows a pattern of consistent investment in IRDM over the previous days, reflecting ARK's bullish stance on the satellite communications firm.
On the sell side, ARK divested from AEROVIRONMENT INC (NASDAQ:AVAV), offloading a total of 5,300 shares—902 through ARKQ and 4,398 through ARKX—for a combined value of $1,029,577. This continues a sell-off trend from last week.
The ETFs also sold 12,112 shares of ZOOM VIDEO COMMUNICATIONS INC (NASDAQ:ZM) entirely through the ARKW ETF, totaling $769,475. This trade is part of a larger pattern of reducing exposure to the video conferencing company, which has seen a significant sell-off since last week.
Smaller sales included 803 shares of VERVE THERAPEUTICS INC (NASDAQ:VERV), 217,400 shares of VELO3D INC (NYSE:VLD), and 628 shares of 2U INC (NASDAQ:TWOU), with respective total dollar values of $500,636, $50,132, and $223. These transactions indicate ARK's strategy of trimming positions in companies that may no longer align with their investment thesis or to rebalance the funds' portfolios.
Investors following ARK's trades can discern patterns in the ETFs' strategies, such as a focus on innovative tech and biotech companies, while also observing the divestment from certain stocks. These daily trade reports offer a transparent glimpse into the decision-making processes of one of the market's most closely watched fund managers.
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