Source: Investing Published 11/26/2024, 04:03
Cathie Wood’s ARK ETFs posted their daily trades for Monday, November 25, 2024, revealing a series of strategic adjustments across various sectors. The largest trade by dollar value was the sale of Tesla Inc. (NASDAQ:TSLA), with a total of 20,552 shares being offloaded between the ARKK and ARKQ ETFs, for a total value of $7,245,813.
In a notable purchase, ARK’s ARKQ fund invested heavily in Amazon.com (NASDAQ:AMZN), buying 19,747 shares for $3,892,528. The move signals ARK’s continued confidence in the e-commerce giant, despite broader market volatility.
ARK also made a significant investment in the 3IQ Ether Staking ETF (ETHQ.U), purchasing a total of 850,000 shares across its ARKW and ARKF exchange-traded funds, for a total of $11,050,000. The purchase underscores ARK’s growing interest in crypto-related assets.
In the technology and innovation space, ARK’s ARKQ fund added 10,753 shares of Advanced Micro Devices (NASDAQ:AMD) to its portfolio, for a total value of $1,487,677. The investment is in line with ARK’s focus on growth-oriented companies in sectors such as artificial intelligence and computing.
ARKF’s largest purchase was in Ibotta Inc (IBTA), acquiring 68,442 shares worth $4,833,374. The transaction continues a trend where ARK has been piling up on Ibotta stock, buying 12,303 shares last Friday.
In the healthcare and genomics space, ARK’s ARKG fund sold 276,392 shares of Butterfly Network Inc (NYSE:BFLY) for $895,510 and bought 96,815 shares of Recursion Pharmaceuticals Inc (NASDAQ:RXRX) for $551,845. These deals signal a rebalancing of ARK’s portfolio in the rapidly evolving biotech industry.
Other notable deals included the purchase of 38,270 shares of Teradyne Inc (NASDAQ:TER) via its ARKK and ARKQ exchange-traded funds, valued at $4,136,604. Additionally, ARK continued to dump shares of SoFi Technologies (NASDAQ:SOFI), selling 487,850 shares through its ARKF exchange-traded fund, worth $7,610,460.
Smaller trades included purchases of shares in Absci Corp (NASDAQ:ABSI), Blade Air Mobility Inc (NASDAQ:BLDE), Illumina Inc (NASDAQ:ILMN), and Pacific Biosciences of California Inc (NASDAQ:PACB), as well as sales of shares in Genius Sports Ltd (NYSE:GENI), Palantir (NYSE:PLTR), Rocket Lab USA Inc (NASDAQ:RKLB), Repair Therapeutics Inc (NASDAQ:RPTX), and Senti Biosciences Inc (NASDAQ:SNTI). Investors following ARK’s moves can discern a strategy that involves building positions in high-conviction stocks and reducing holdings in others to navigate changing market trends.
