Cathie Wood's ARK ETFs have reported their daily trades for Monday, October 14th, 2024, with notable activity across several holdings. Leading the day's transactions was a significant sale of Robinhood Markets Inc (NASDAQ:HOOD) shares, continuing a recent trend of reducing exposure to the brokerage firm. ARK's various funds sold a combined total of 210,374 shares of Robinhood, valued at approximately $5,526,525.
This move follows a pattern of sales from the previous week, suggesting a strategic shift away from Robinhood by ARK. On Friday, October 11th, ARK sold 178,658 shares, and on Tuesday, October 8th, a substantial 1,421,431 shares were offloaded, marking a consistent sell-off of the stock.
In contrast, ARK showed increased interest in the semiconductor sector by purchasing 2,400 shares of Advanced Micro Devices Inc (NASDAQ:AMD), with a total dollar value of $402,935. This acquisition adds to the 3,589 shares bought on Thursday, October 10th, and the 3,000 shares on Wednesday, October 9th, indicating a growing confidence in AMD.
Other trades included the sale of 229,685 shares of JD (NASDAQ:JD) Logistics Inc (2618) through the ARKX ETF, amounting to $414,208, and the purchase of 9,174 shares of Blade Air Mobility Inc (NASDAQ:BLDE) across the ARKQ and ARKX ETFs, totaling $32,292. Blade Air Mobility has been a recurring interest for ARK, with purchases on the previous Thursday and Wednesday as well.
Additionally, ARK offloaded shares of Markforged Holding Corp (NYSE:MKFG) and Materialise NV (NASDAQ:MTLS), selling 13,781 and 5,679 shares for $63,668 and $28,906 respectively. These sales continue a trend of reducing positions in both companies, as observed in trades from the past week.
Investors following ARK's ETFs will note the ongoing adjustments in the portfolio, with a clear pivot towards certain technology and semiconductor stocks while distancing from other holdings. As always, ARK's daily trade data provides insight into the strategic decisions made by Cathie Wood and her team, offering valuable information for market watchers and investors alike.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.