Cathie Wood’s ARK ETF published their daily trades for Tuesday, October 22, 2024, revealing a mix of strategic buy and sell actions across various sectors. The most significant transaction of the day was the purchase of 170,649 shares of Tempus AI Inc (NYSE:TEM), amounting to a substantial investment of $8,307,193. This move indicates ARK’s growing interest in the artificial intelligence company, as it follows a series of recent acquisitions of Tempus AI shares, suggesting a bullish stance on the company’s future.
In contrast, ARK divested a considerable portion of its holdings in Robinhood Markets Inc (NASDAQ:), selling 210,483 shares with a total value of $5,676,726. This sale was distributed between the ARKK and ARKW ETFs, with the majority being offloaded from the ARKK portfolio. The sell-off of Robinhood stock is part of a broader trend, as ARK has been reducing its position in the company over recent days.
Another notable buy for ARK was Cerus Corp (NASDAQ:), with the ETFs purchasing a total of 411,854 shares valued at $691,914. This continues ARK’s recent accumulation of Cerus Corp stock, signaling confidence in the biomedical products company.
ARK also continued to invest in CRISPR Therapeutics AG (NASDAQ:CRSP), buying 47,838 shares for a total of $2,320,621. This genetic medicine company has been a recurring name in ARK’s daily trades, with consistent buying indicating a long-term interest in CRISPR’s gene-editing technology.
On the sell side, ARK reduced its stake in Moderna Inc (NASDAQ:) by 157,421 shares, resulting in an $8,469,249 reduction in ARK’s exposure to the biotechnology firm. This move is part of a selling trend for Moderna stock within ARK’s portfolios.
Smaller transactions included the sale of 2,626 shares of Markforged Holding Corp (NYSE:MKFG) and 400 shares of Materialise NV (NASDAQ:), with total values of $12,027 and $2,071 respectively.
Overall, ARK’s trading activity for the day showcases a strategic rebalancing of its ETF portfolios, with significant investments in emerging tech and biotech companies while retracting from certain established names. Investors will likely monitor these trades closely, as ARK’s moves could signal broader market trends and shifts in sector focus.
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