Cathie Wood's ARK ETF published their daily trades for Tuesday, July 16th, 2024, revealing a series of strategic moves across various sectors. The trades demonstrate ARK's active management approach as they continue to adjust their portfolio in response to market dynamics.
The most significant trade of the day involved the sale of 46164 shares of Zoom Video Communications Inc (NASDAQ:ZM), amounting to a total dollar value of $2,692,746. This follows a pattern of selling Zoom shares, as ARK had also reduced its position in the company in previous trading sessions, including a sale of 195490 shares on Friday, July 12th, and 109487 shares on Wednesday, July 10th.
On the buying side, ARK showed a strong interest in Oklo Inc (NYSE:OKLO), purchasing 214461 shares through its ARKQ ETF, with the total dollar value reaching $1,870,099. This move signals a bullish stance on the advanced nuclear technology company, adding to the 280149 shares bought on Monday, July 15th.
Another notable investment was in Beam Therapeutics Inc (NASDAQ:BEAM), with ARK acquiring a combined total of 18684 shares across its ARKK and ARKG ETFs, valued at $478,684. The consistent buying pattern is evident as ARK had also bought a significant stake in Beam Therapeutics on the previous day, totaling 57538 shares.
The fund also executed sales in other key holdings, including the sale of 54904 shares of UiPath Inc (NYSE:NYSE:PATH) for $684,652 through its ARKG ETF and 35610 shares of Trimble Inc (NASDAQ:TRMB) for $2,040,096 through its ARKQ ETF. Additionally, ARK sold 4866 shares of Twist Bioscience Corp (NASDAQ:TWST) for $273,225 through ARKG.
Today's trades highlight ARK's ongoing strategy of investing in disruptive innovation while offloading positions in other companies, possibly to take profits or reallocate funds to more promising opportunities. Investors following Cathie Wood's ARK ETFs will be keeping a close eye on these developments to understand the fund's evolving market outlook and sector focus.
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