Cathie Wood's ARK ETFs published their daily trades for Wednesday, June 12th, 2024, revealing a mix of strategic buys and sells across various sectors. Leading the transactions was a significant investment in Rubrik Inc (NASDAQ:RBRK), with ARK's ARKW ETF purchasing 187,222 shares, totaling approximately $6.6 million in value. This move indicates a strong bullish stance on the cloud data management company.
On the sell-side, ARK's ARKW ETF divested a total of 229,654 shares of Teladoc Health Inc (NYSE:TDOC), equating to nearly $2.4 million. Additionally, the same ETF sold 54,165 shares of Zoom Video Communications Inc (NASDAQ:ZM) for a value of around $3.4 million. These sales might suggest a shift in ARK's confidence in the telehealth and video communications sectors, respectively.
In the biotechnology space, ARK's ARKG ETF continued to show interest in Arcturus Therapeutics Holdings Inc (NASDAQ:ARCT), buying 39,589 shares valued at over $1.2 million. This follows a pattern of consistent accumulation of ARCT shares over the past week, signaling a potential long-term investment thesis in the company's gene therapy technologies.
ARK's ETFs also engaged in smaller-scale trades, including the purchase of 30,036 shares of Markforged Holding Corp (NYSE:MKFG) across its ARKQ and ARKX ETFs, and 18,984 shares of PagerDuty Inc (NYSE:PD) through its ARKK and ARKW ETFs.
Additionally, ARK sold shares of Robinhood Markets Inc (NASDAQ:HOOD), Verve Therapeutics Inc (NASDAQ:VERV), and Zoom Video Communications Inc (NASDAQ:ZM), suggesting a recalibration of their positions in these companies.
Overall, ARK's trading activity for the day reflects a diverse approach to portfolio management, with significant transactions in both buying and selling across different industries. Investors following ARK's ETFs will likely keep a close eye on these moves as they try to gauge the direction of Wood's investment strategies.
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