Source: Investing Published 11/14/2024, 04:05
Cathie Wood’s ARK ETF posted its daily trades for Wednesday, November 13, 2024, revealing a series of strategic buys and sells across a variety of sectors. The day’s most notable investment was in CRISPR Therapeutics AG (NASDAQ:CRSP), with ARK buying 185,429 shares worth around SAR 9.4 million. The move underscores ARK’s continued confidence in the gene-editing company, building on previous acquisitions earlier in the week.
Another notable purchase was Aurora Innovation Inc (NASDAQ:AUR), with ARK snapping up 217,190 shares worth over SAR 1.1 million. The purchase is in line with ARK’s focus on innovative technologies, particularly in the area of autonomous vehicles.
ARK also showed interest in e-commerce giant Amazon.com (NASDAQ:AMZN), buying 4,469 shares for a total value of nearly SAR 933,618. This trade comes after a large investment in Amazon last Thursday, indicating a positive stance towards the growth prospects of the online retailer.
In the semiconductor space, ARK added 1,000 shares of Advanced Micro Devices (NASDAQ:AMD) to its ARKX ETF, reflecting belief in the company’s potential despite the smaller deal size (SAR 143,630).
ARK also showed an appetite for aerospace, with purchases in Archer Aviation Inc (NYSE:ACHR) and Blade Air Mobility Inc (NASDAQ:BLDE), for a total of SAR 267,460 and SAR 162,539, respectively. These trades indicate that ARK is looking to grow within the urban air mobility sector.
On the sell side, ARK offloaded 149.84 shares of Adaptive Biotechnologies Corp (NASDAQ:ADPT) from the ARKG ETF, worth SAR 88,855. This follows a pattern of selling Adaptive Biotechnologies shares over the past week, indicating a strategic reduction in this holding.
The largest sale of the day was Unity Software (NYSE:U), where ARK sold 566,369 shares, generating a significant cash gain of approximately SAR 10.9 million. This continues ARK’s trend of reducing its position in Unity Software, as seen in previous trading days.
Other sales included Exact Sciences Corp (NASDAQ:EXAS) and Rocket Lab USA Inc (NASDAQ:RKLB), where ARK offloaded shares worth approximately SAR 2 million and SAR 7 million, respectively.
In conclusion, Cathy Wood’s ARK ETF’s daily trades indicate a strategic rebalancing, with a clear focus on companies at the forefront of technological innovation and a gradual move away from some biotech and software stocks. As ARK continues to adjust its portfolio, investors are provided with insights into where the company sees the most promising growth opportunities.
