Cathie Wood's ARK ETFs have published their daily trades for Monday, June 24th, 2024, showcasing a continued focus on the biotechnology sector, with significant transactions in both buying and selling positions.
Topping the list of trades by dollar value, ARK made a considerable divestment from Ginkgo Bioworks Holdings Inc (NYSE:DNA), selling a massive 41,587,888 shares across its ARKK and ARKG ETFs, for a total value of $17,649,899. This move marks a notable sell-off in the synthetic biology company, which has been a frequent presence in ARK's trading activity.
Another major sale was executed in Coinbase Global Inc (NASDAQ:COIN), with ARK's ARKW ETF shedding 3,341 shares worth $754,598. This sale comes amidst a turbulent time for the cryptocurrency exchange platform, reflecting a potential shift in ARK's investment strategy regarding digital assets.
On the buying side, ARK's ARKK ETF made a substantial investment in 10X Genomics Inc (NASDAQ:TXG), purchasing 353,815 shares valued at $6,948,926. This indicates a strong vote of confidence in the genomics company, which has been a recurring target for ARK's investments.
In addition to 10X Genomics, ARK's ARKK ETF also bolstered its position in Roku Inc (NASDAQ:ROKU), acquiring 32,989 shares for $1,794,601. This purchase suggests a sustained bullish outlook on the streaming device manufacturer, despite the highly competitive landscape of the streaming market.
Adaptive Biotechnologies Corp (NASDAQ:ADPT) saw an influx of 129,816 shares bought through the ARKG ETF, totaling $420,603, demonstrating ARK's continued interest in the adaptive immune system profiling company.
Other notable buys included ABSCI Corp (NASDAQ:ABSI) with 43,936 shares for $132,686, and PagerDuty Inc (NYSE:NYSE:PD) with 11,850 shares at $253,589. These trades may indicate a developing trend as ARK has consistently increased its holdings in these companies over recent days.
Smaller-scale transactions included the purchase of shares in Markforged Holding Corp (NYSE:MKFG) and a sale of shares in Verve Therapeutics Inc (NASDAQ:VERV), among others. While these trades are less significant in dollar value, they still contribute to the overall investment strategy ARK employs.
As ARK continues to adjust its portfolio, market observers will be keen to see how these trades play out in the context of broader market trends and the performance of the individual companies involved.
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