In the latest trading activity, Cathie Wood’s ARK ETF published daily trading for Friday, October 11, 2024, with big moves in several notable stocks. The most significant trade of the day involved the sale of Robinhood Markets, Inc. (NASDAQ:) stock, with ARK selling a total of 178,658 shares across the ARKK and ARKW ETFs for approximately $4.56 million.
Conversely, ARK showed continued confidence in electric vehicle giant Tesla Inc. (NASDAQ:), purchasing 12,730 shares through the ARKW ETF, representing a cash outlay of approximately $3.04 million. The purchase adds to ARK’s recent pattern of accumulating Tesla shares and underscores the fund’s bullish stance on the EV maker.
Moderna, Inc. (NASDAQ:) also significantly reduced its holdings in ARK, with 130,136 shares sold between ARKK and ARKG ETFs for a total value of approximately $7.4 million. This follows the trend of ARK reducing its positions in biotech companies as observed in previous trading sessions.
Other sales included positions in Markforged Holding Corp (NYSE:MKFG), Materize NV (NASDAQ:), and Roku Inc (NASDAQ:) for approximately $122,611, $75,405, and $1.38 million, respectively. It becomes.
On the buy side, in addition to its notable investment in Tesla, ARK made a modest purchase of Blade Air Mobility Inc (NASDAQ:) stock, splitting it between the ARKQ and ARKX ETFs for 400 shares for a total of $1,376 . This follows a series of acquisitions of Blade Air Mobility over the past week and signals ARK’s growing interest in urban air mobility companies.
Investors who follow ARK’s trades may take note of these patterns, as they can signal a strategic shift in the fund and long-term conviction in the outlook for various sectors and individual stocks.
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