Cathie Wood's ARK ETFs have published their daily trades for Monday, August 19th, 2024, revealing a series of strategic moves in the biotech and tech sectors. Notably, ARK has continued to adjust its holdings in several key companies, with the largest dollar-value trade being a sale of Teladoc Health Inc (NYSE:TDOC) shares. ARK sold 313,172 shares of Teladoc, valued at approximately $2,226,652, across its ARKK and ARKG ETFs.
This divestment follows a trend of ARK reducing its stake in Teladoc, as seen in previous trading sessions. On the other hand, ARK has been steadily increasing its investment in Recursion Pharmaceuticals Inc (NASDAQ:RXRX), with the latest purchase of 143,170 shares amounting to a total dollar value of $964,965. This accumulation suggests a growing confidence in the pharmaceutical company's prospects.
Another significant trade involved Verve Therapeutics Inc (NASDAQ:VERV), where ARK sold 613,033 shares for a total of $2,740,257 through its ARKG ETF. This move marks a continuation of ARK's sell-off in Verve stock, which has been ongoing over the last few trading days.
In addition to these major trades, ARK also bought shares of Intellia Therapeutics Inc (NASDAQ:NTLA), adding 30,164 shares to its ARKG ETF at a value of $682,611. This purchase aligns with ARK's pattern of increasing its stake in Intellia, indicating a bullish outlook on the gene-editing company.
Other notable trades include the sale of 27524 shares of Materialise NV (NASDAQ:MTLS) through its ARKQ ETF, valued at $147,803, and the purchase of 7464 shares of Arcturus Therapeutics (NASDAQ:ARCT) Holdings Inc (NASDAQ:ARCT) for $150,772 through its ARKG ETF. The latter represents a continued interest in Arcturus, as ARK has been buying shares in the company over the past week.
Smaller trades included the sale of shares in companies such as 908 Devices Inc. (NASDAQ:MASS), Unity Software Inc (NYSE:NYSE:U), Veracyte Inc (NASDAQ:VCYT), Velo3D Inc (NYSE:NYSE:VLD), and Vuzix Corp (NASDAQ:VUZI). Despite their lower dollar values, these transactions are part of ARK's broader portfolio rebalancing strategy.
Investors and market watchers will be keen to see how these trades play out and what they may signal about ARK's investment strategy and outlook on the evolving market landscape.
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