Cathie Wood's ARK ETF published their daily trades for Thursday, December 19th, 2024, revealing a series of strategic moves in the tech and biotech sectors. The most significant transaction of the day was ARK's purchase of 348,295 shares of Tempus AI Inc (NYSE:TEM), which amounted to a total dollar value of $11,946,518. This substantial investment was split between the ARKK and ARKG ETFs, with the former acquiring 302,889 shares and the latter 45,406 shares.
On the sell side, ARK divested 44,152 shares of Ionis Pharmaceuticals Inc (NASDAQ:IONS) from its ARKG ETF, totaling $1,600,510 in value. This continues a recent trend of ARK reducing its position in IONS, as seen in the previous week's trades.
Another notable sale was ARK's reduction of its stake in Tesla Inc (NASDAQ:TSLA). ARKK ETF sold 14,016 shares of the electric vehicle giant, with a total dollar value of $6,168,862. This sale seems to follow a pattern of ARK scaling back its investment in Tesla over the past week.
In addition, ARK's ARKK ETF sold 33,402 shares of Palantir Technologies Inc (NYSE:NASDAQ:PLTR), a data analytics company, for a total value of $2,388,577. This move comes amid a series of sales and purchases within the tech sector by ARK ETFs.
On the smaller end of ARK's daily trades, ARKG ETF bought 10,734 shares of Personalis Inc (NASDAQ:PSNL), a genomics firm, for $38,213. This acquisition adds to a growing position in PSNL, as ARK has been consistently buying shares over the recent trading days.
Investors following Cathie Wood's ARK ETFs can discern a clear investment strategy from these transactions, with a focus on innovative technologies in both the tech and biotech industries. The consistent investment in Tempus AI Inc suggests a bullish outlook on the company's prospects, while the ongoing sales of Tesla shares could indicate a strategic shift in ARK's portfolio composition.
As always, ARK's daily trades provide insights into the ETFs' dynamic investment strategies, and investors will be watching closely to see how these moves play out in the market.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.