Cathie Wood’s ARK ETF published their daily trades for Monday, December 30th, 2024, revealing a mix of strategic buy and sell actions across various sectors. The trades indicate ARK’s ongoing adjustments to its portfolio, with some stocks seeing a continuation of recent trends.
The largest transaction of the day was the purchase of 78,181 shares of 10X Genomics Inc (NASDAQ:), valued at approximately $1,140,660. This acquisition was distributed between ARK’s Innovation ETF (ARKK) with 66,732 shares and Genomic Revolution ETF (ARKG) with 11,449 shares. This move adds to ARK’s recent pattern of accumulating shares in the biotechnology company, suggesting a bullish stance on 10X Genomics’ growth potential.
In contrast, ARK divested a significant amount of stock in Rocket Lab USA Inc (NASDAQ:RKLB), selling 18,885 shares across its ARKQ and ARKX (NYSE:) ETFs, totaling a dollar value of $514,049. The sale represents a continued reduction in ARK’s position in Rocket Lab, following a similar trend from the previous week.
Another notable sell was Adaptive Biotechnologies Corp (NASDAQ:), with ARK’s Genomic Revolution ETF (ARKG) offloading 35,671 shares worth $224,370. This marks a continuation of ARK’s gradual exit from Adaptive Biotechnologies, as seen in the past several trading sessions.
ARK also continued to reduce its stake in Archer Aviation Inc (NYSE:NYSE:), selling a combined 8,527 shares through its ARKK and ARKQ ETFs, equating to $95,331. This follows a much larger sale of Archer Aviation stock last Friday, indicating a bearish shift in ARK’s assessment of the company’s prospects.
The only other purchase in Monday’s trading was Iridium Communications Inc (NASDAQ:), with ARK’s ARKX ETF acquiring 17,332 shares at a value of $503,667. This buy reflects an ongoing interest in Iridium, as ARK also bought shares in the company the previous week.
Finally, ARK’s ARKG ETF parted ways with 5,697 shares of Veracyte Inc (NASDAQ:) for $228,563, continuing its selling trend in the genomic diagnostics company.
Investors following Cathie Wood’s ARK ETFs will note these transactions as part of the funds’ dynamic investment strategy, reflecting ARK’s latest insights and market expectations. As always, such trades offer a window into ARK’s view of the evolving landscape of innovative companies.
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