Cathie Wood Sells Roku Shares, Bets on New Tech Stocks

Source: Investing Published 06/10/2024, 11:34

In the ever-changing world of ETFs, Cathie Wood’s ARK funds remain a focus for investors interested in disruptive technology and innovation. On Friday, October 4, 2024, ARK funds made several trades that could signal a shift in the investment firm’s confidence in various sectors.

Topping the list of trades, the ARKF ETF sold 11,157 shares of ROKU INC (NASDAQ:ROKU).

for a total value of $841,795. The move continues a trend for ARK, which has been reducing its position in the streaming device company over the past week.

On the buying side, the ARKQ ETF bought 24,633 shares of 3D SYSTEMS CORP (NYSE:DDD).

for a total value of $67,740. This is evidence of continued interest in the 3D printing company.

with ARK accumulating shares in recent days.

Another notable purchase was BLADE AIR MOBILITY INC (NASDAQ:BLDE), with the ARKQ and ARKX ETFs adding a combined 13,121 shares to their portfolios, for an investment of $42,905. Similar to 3D Systems.

Blade has been a frequent addition to ARK’s holdings, indicating a positive outlook for the urban air transportation provider.

On the selling side, the ARKQ ETF dumped shares in ROCKET LAB USA INC (NASDAQ:RKLB).

selling 26,354 shares for a total of $243,774. This deal follows a pattern of selling seen in previous sessions.

suggesting a possible strategic exit or rebalancing away from the aerospace manufacturer.

The ARKQ ETF also sold a smaller amount of MATERIALISE NV (NASDAQ:MTLS) shares, totaling 502 shares for $2,580.

while it shed 453 shares of TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD (NYSE:TSM) for $81,304. While these deals aren’t as significant as Roku or Rocket Lab in terms of value.

they still reflect the fund’s tactical adjustments to its technology and industrial holdings.

Investors and market watchers often look to ARK’s trading activity for insights into areas where the innovative investment firm sees potential for growth or risk.

As such, the latest deals paint a picture of ARK’s evolving investment strategy, particularly in the technology and industrial sectors. While it remains uncertain whether these moves will pay off in the long term.

they do offer a glimpse into the active management style that has made Cathie Wood’s funds a topic of discussion among market watchers.