Cathie Wood's ARK ETFs have disclosed their daily trades for Wednesday, 28 August 2024, revealing a series of moves that continue to shape the investment firm's innovative growth-focused portfolios.
Topping the list with the highest dollar-value trade, ARK has made a significant purchase in TEMPUS AI INC (NASDAQ:TEM), acquiring a total of 75,157 shares across its ARKK and ARKG ETFs, amounting to a substantial investment of $5,145,999. This purchase indicates a strong conviction in Tempus, which has been a recurring theme, as ARK also bought shares of the company on Monday, adding to its already considerable position.
ARK also showed continued interest in DRAFTKINGS INC (NASDAQ:DKNG) by buying 19,374 shares through its ARKW ETF, valued at $684,483. This move follows a pattern of accumulation, with ARK having bought shares of DraftKings (NASDAQ:DKNG) on both Monday and Tuesday, signaling a bullish stance on the online gaming company.
In the realm of e-commerce, ARK bought 9,184 shares of SHOPIFY INC (NYSE:SHOP) through its ARKW ETF, matching the dollar value of the DraftKings trade at $684,483. This trade comes after ARK also bolstered its Shopify (NYSE:SHOP) holdings on Monday, suggesting a growing confidence in the online platform's growth prospects.
On the smaller end of the scale, ARK made additional purchases, such as 82,669 shares of ABSCI CORP (NASDAQ:ABSI) for $371,183 through ARKG and 36,551 shares of BLADE AIR MOBILITY INC (NASDAQ:BLDE) for $114,770 through ARKX.
However, it wasn't all buying for ARK. The firm also trimmed its positions in several companies. The most notable sell was in GENIUS SPORTS LTD (NYSE:GENI), with ARK divesting 199,447 shares through its ARKW ETF, totaling $1,505,824. This follows a trend as ARK also sold shares of Genius Sports on Tuesday.
Other sales included 19,541 shares of TRADE DESK INC (NASDAQ:TTD) for $2,030,700 through ARKK, and smaller quantities of GINKGO BIOWORKS HOLDINGS INC (NYSE:DNA), 908 DEVICES INC. (NASDAQ:MASS), MYNARIC AG (NASDAQ:MYNA), TELADOC HEALTH INC (NYSE:TDOC), UNITY SOFTWARE INC (NYSE:U), VERACYTE INC (NASDAQ:VCYT), VERVE THERAPEUTICS INC (NASDAQ:VERV), VELO3D INC (NYSE:VLD), and VUZIX CORP (NASDAQ:VUZI).
Investors following ARK's trades are witnessing a strategic reshaping of its ETFs, with a clear focus on innovative companies that Wood and her team believe are poised for future growth. As always, these trades provide a window into the investment philosophy driving one of the most closely watched fund managers in the tech and innovation space.
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