Cathie Wood's ARK ETFs have made their daily trades for Wednesday, July 3, 2024, with a notable shift in their portfolio composition. The largest transaction of the day was ARK's sale of 13,213 shares of Tesla Inc (NASDAQ:TSLA), which resulted in a dollar value of $3,055,638. This move is part of a continued trend, as ARK has been reducing its stake in the electric vehicle giant over the last week.
On the buying side, ARK increased its position in Archer Aviation Inc (NYSE:NYSE:ACHR), purchasing 191,383 shares through its ARKK ETF, amounting to $711,944. This follows a pattern of accumulation in the urban air mobility company, with significant purchases also made on the previous two trading days.
In addition, ARK bought 21,675 shares of Intellia Therapeutics Inc (NASDAQ:NTLA) across its ARKK and ARKG ETFs, with a total value of $480,101. This biotechnology company has seen consistent buying interest from ARK over the past week, suggesting a bullish outlook on gene editing technologies.
Other notable trades include the sale of 34,71 shares of AeroVironment Inc (NASDAQ:AVAV) through the ARKQ ETF, valued at $594,235, and the disposal of 63,285 shares of Verve Therapeutics Inc (NASDAQ:VERV) across ARKK and ARKG ETFs, which amounted to $316,425.
Smaller transactions included the purchase of 12,675 shares of Blade Air Mobility Inc (NASDAQ:BLDE) through the ARKX ETF for $43,348, the sale of 28,780 shares of Ginkgo Bioworks Holdings Inc (NYSE:NYSE:DNA) through the ARKK ETF at $9,972, and the acquisition of 3,400 shares of Recursion Pharmaceuticals Inc (NASDAQ:RXRX) across ARKK and ARKG ETFs, totaling $24,343.
Lastly, ARK trimmed its holdings in Teladoc Health Inc (NYSE:NYSE:TDOC) by selling 400 shares through ARKW and ARKF ETFs, with a dollar value of $3,759.
Investors following Cathie Wood's ARK ETFs should note the ongoing trends, particularly the increased investment in companies like Archer Aviation and Intellia Therapeutics, alongside the gradual reduction of positions in Tesla and other stocks. These trades reflect ARK's strategic adjustments as they navigate the market environment of mid-2024.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.