Cathie Wood's ARK ETFs published their daily trades for Thursday, July 11th, 2024, showcasing a series of strategic transactions across multiple sectors. The most significant move of the day came from the ARKK ETF, which sold a substantial stake in Zoom Video Communications Inc (NASDAQ:ZM), amounting to 97,497 shares with a total dollar value of $5,459,832. This divestment follows a pattern observed earlier in the week, indicating a possible shift in ARK's investment strategy regarding the video conferencing giant.
In contrast to the large sell-off of Zoom, ARK displayed continued interest in Blade Air Mobility Inc (NASDAQ:BLDE), albeit with a relatively modest purchase of 300 shares totaling $1,032 through its ARKQ ETF. This follows a significant investment in Blade Air Mobility from the previous days, including a notable acquisition of 765,851 shares on Wednesday, July 10th, and 177,289 shares on Tuesday, July 9th, suggesting a bullish stance on the urban air mobility company.
Further sales were executed with Verve Therapeutics Inc (NASDAQ:VERV), from which ARK's ARKK ETF divested 53,363 shares, valued at $322,846. This sale is part of a selling trend in Verve Therapeutics, as ARK has been reducing its position in the company throughout the past week.
Additionally, ARK made a combined sale of Velo3D Inc (NYSE:NYSE:VLD) shares across its ARKQ and ARKX ETFs, totaling 10,351 shares with a dollar value of $30,328. The distribution of shares sold from each fund was 7,070 and 3,281 respectively.
While the daily report primarily highlights transactions from July 11th, the consistent buying and selling patterns over the past week provide a broader context for ARK's investment decisions. The continued accumulation of Blade Air Mobility shares and the systematic reduction of positions in companies like Zoom and Verve Therapeutics offer insight into the evolving priorities of Cathie Wood's ARK ETFs. Investors closely monitoring ARK's trades can discern these trends, which may influence their own investment strategies in a dynamic market landscape.
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