Cathie Wood's ARK ETF published their daily trades for Monday, October 7th, 2024, revealing a series of strategic buy and sell actions across various sectors. The most significant trade of the day was the purchase of 307,557 shares of Recursion Pharmaceuticals Inc (NASDAQ:RXRX), amounting to a total dollar value of $1,879,173. This move underscores ARK's growing interest in the biotech sector and positions RXRX as a potentially pivotal player in ARK's investment strategy.
Another notable transaction involved the acquisition of 82,172 shares of 10X Genomics Inc (NASDAQ:TXG), with a dollar value of $1,645,083. This follows ARK's pattern of investing in innovative companies within the genomic space, suggesting a bullish outlook on TXG's market prospects.
On the sell side, ARK divested 40,982 shares of CareDx Inc (NASDAQ:CDNA) from its ARKG ETF, totaling $1,266,753. This sale represents the largest dollar-value reduction in ARK's holdings for the day. Additionally, the ETF sold 53,377 shares of Veeva Systems Inc (NYSE:NYSE:VEEV) and 35,553 shares of Vertex Pharmaceuticals Inc (NASDAQ:VRTX), with respective dollar values of $1,100,510 and $1,617,716, indicating a significant reshuffling within ARK's healthcare investments.
In the technology sector, ARK showed continued interest in Blade Air Mobility Inc (NASDAQ:BLDE), buying a total of 65,827 shares split between its ARKQ and ARKX ETFs, valued at $225,786. This follows a consistent pattern of investment in BLDE over the past week, suggesting ARK is doubling down on its commitment to the urban air mobility company.
Conversely, ARK sold off shares in several tech companies, including 99,187 shares of Markforged Holding Corp (NYSE:MKFG) for $470,146 and smaller amounts of Materialise NV (NASDAQ:MTLS) and Rocket Lab USA Inc (NASDAQ:RKLB), valued at $20,770 and $4,870 respectively.
The trade activity also included a modest purchase of 3,545 shares of 3D Systems Corp (NYSE:NYSE:DDD) for $10,138. While this trade is smaller in dollar value, it is part of a recent trend of buying DDD shares, hinting at a growing interest from ARK in the 3D printing company.
Today's transactions demonstrate ARK's active management style and its focus on companies poised for growth in the biotech, genomic, and tech innovation sectors. Investors and market analysts will be watching closely to see how these trades affect the performance of ARK's ETFs in the days and weeks to come.
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