Cathie Wood's ARK ETFs have published their daily trades for Thusday, April 18th, 2024, showcasing a continued bet on cryptocurrency-related funds and a series of strategic sell-offs in various sectors. Leading the day's transactions, ARK's ARKF ETF added a substantial 490,751 shares of ARK 21Shares Bitcoin ETF (ARKB), marking a significant investment of approximately $29.96 million. This move comes after a similar purchase made the day before, indicating a strong bullish stance on Bitcoin by ARK.
In tandem with the Bitcoin ETF, ARK also increased its position in Ethereum, with the ARKW ETF purchasing 22,461 shares of ARK 21Shares Active Ethereum Futures Strategy ETF (ARKZ). This investment aligns with the fund's strategy to capitalize on the growing interest in the second-largest cryptocurrency by market cap.
ARK's interest in the crypto space was further evidenced by the acquisition of 42,800 shares of ProShares Ether Strategy ETF (EETH) through its ARKW ETF, valued at approximately $2.83 million.
The electric vehicle industry remains a focal point for ARK, with the purchase of 88,720 shares of Tesla Inc (NASDAQ:TSLA), totaling nearly $13.79 million. This acquisition continues ARK's trend of accumulating Tesla stock, reinforcing Cathie Wood's long-term confidence in the EV leader.
On the sell side, ARK reduced its holdings in several companies. Notably, the ARKK ETF sold 209,511 shares of DraftKings Inc (NASDAQ:DKNG), with a total dollar value of $8.84 million. This divestment was part of a broader trend, as ARK has been consistently selling DraftKings stock over the past week.
In the tech sector, ARK sold 150,700 shares of Zoom Video Communications Inc (NASDAQ:ZM) across its ARKK and ARKW ETFs, amounting to a total of $8.9 million. Additionally, ARK offloaded 182,748 shares of Twilio Inc (NYSE:NYSE:TWLO) through its ARKF ETF, worth over $10.73 million.
In the biotech sphere, ARK showed mixed activity, buying 116,395 shares of 10X Genomics Inc (NASDAQ:TXG) across its ARKK and ARKG ETFs, which amounted to roughly $3.39 million. Conversely, ARK sold positions in several biotech companies, including Exact Sciences Corp (NASDAQ:EXAS) and Regeneron Pharmaceuticals Inc (NASDAQ:REGN).
Other notable sales included a reduction in holdings of MercadoLibre Inc (NASDAQ:MELI), NU Holdings Ltd (NYSE:NU), StoneCo Ltd (NASDAQ:STNE), and Vertex Pharmaceuticals Inc (NASDAQ:VRTX).
As ARK continues to adjust its portfolios, investors are provided with insights into the fund's strategic shifts and the sectors it believes hold the most promise or require rebalancing. The consistent investment in cryptocurrency ETFs suggests ARK's belief in the resilience and growth potential of digital assets, while divestments from companies like DraftKings and Twilio might indicate a reallocation of resources to other opportunities or a response to market dynamics.
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