Cathie Wood's ARK ETF published their daily trades for Tuesday, August 27th, 2024, showcasing a series of strategic moves in the tech and healthcare sectors. The fund's largest transaction involved the sale of 225,565 shares of Genius Sports Ltd (NYSE:GENI), with a total dollar value of $1,732,339. This move comes after a consistent sell-off pattern in Genius Sports shares by ARK over the past week, indicating a significant shift away from the sports data company.
In contrast, ARK showed increased confidence in DraftKings Inc (NASDAQ:DKNG), purchasing 25,102 shares valued at $880,829. This acquisition aligns with previous trades from last week, where ARK also bolstered its position in DraftKings, reflecting a growing bullish stance on the online sports betting platform.
Another notable transaction was the sale of 193,382 shares of 908 Devices Inc. (NASDAQ:MASS), totaling $783,197. This trade follows a trend of ARK reducing its holdings in the company, as evidenced by sales of MASS stock on multiple occasions in the past week.
ARK also continued to adjust its healthcare portfolio, selling 78821 shares of Verve Therapeutics Inc (NASDAQ:VERV) for $402,775, and 1623 shares of Materialise NV (NASDAQ:MTLS) for a modest $9,040. The fund has been actively trading VERV stock, with both purchases and sales occurring in recent days, suggesting a rebalancing rather than a clear directional bet.
In addition to DraftKings, ARK also made a significant buy in Shopify Inc (NYSE:NYSE:SHOP), acquiring 11,213 shares at a value of $840,414. This follows a substantial investment in Shopify just the day before, indicating ARK's growing conviction in the e-commerce platform's potential.
The daily report also included smaller trades, such as the purchase of 29,950 shares of Blade Air Mobility Inc (NASDAQ:BLDE) for $95,241 through ARK's ARKX ETF and the sale of 35,677 shares of Mynaric AG (NASDAQ:MYNA) totaling $40,311.
Other sales involved Teladoc Health Inc (NYSE:NYSE:TDOC), with a combined sale of 4,345 shares across ARKK and ARKG ETFs worth $31,761, and Unity Software Inc (NYSE:U), shedding a total of 457 shares from ARKQ and ARKX ETFs, valued at $8,098.
Lastly, ARK continued to divest from Vuzix Corp (NASDAQ:VUZI), selling 30,181 shares across ARKQ and ARKW ETFs for $26,100, following a pattern of consistent sales in the augmented reality company's stock over the past week.
Investors following ARK's trades will note the fund's dynamic approach to portfolio management, with a keen eye on tech and healthcare sectors, as Cathie Wood's team navigates the market's evolving landscape.
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