Cathie Wood's ARK ETFs have disclosed their daily trades for Monday, May 6th, 2024, with a continued focus on adjusting their holdings in key tech and education companies. The largest transaction of the day involved Teladoc Health Inc (NYSE:TDOC), where ARK divested a total of 141,234 shares across three of its funds: ARKK, ARKW, and ARKG. This sale amounted to a significant $1,804,970.
Following TDOC, ARK also reduced its stake in 2U Inc (NASDAQ:TWOU) by selling 2,579 shares through three different ETFs—ARKK, ARKQ, and ARKW—totaling $876. This move comes after a series of sales in TWOU over the past week, indicating a potential strategic shift away from the online education provider.
In smaller transactions, ARK's ARKF ETF sold minor positions in StoneCo Ltd (NASDAQ:STNE) and Twilio Inc (NYSE:NYSE:TWLO), with 25 shares and $418, and 25 shares and $1,547 respectively. These sales are consistent with ARK's pattern of trimming positions in these companies, as observed from the previous week's trading activity.
Investors following ARK's trading patterns will note that the fund has been systematically reducing its exposure to certain stocks like TWOU and STNE, while previously, it had increased its holdings in high-profile names such as Tesla Inc (NASDAQ:TSLA) and the ARK 21Shares Bitcoin ETF (NYSEARCA:ARKB).
The ongoing adjustments to ARK's portfolio showcase Wood's active management approach and responsiveness to market dynamics. As always, investors are keen to interpret these trades, seeking insights into the broader investment strategy of one of the market's most closely watched fund managers.
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