Cathie Wood's ARK ETF released its daily trades for Tuesday, December 24, 2024, with a significant focus on the technology and biotech sectors. The biggest transaction of the day involved the purchase of 269,976 shares of GitLab Inc (NASDAQ:GTLB) through ARK's main ETF ARKK, worth a whopping €16,201,259. This purchase continues a recent trend for ARK, which has been accumulating GitLab shares since last week, signaling strong confidence in the company's growth potential.
Another notable purchase for ARK was in CRISPR Therapeutics AG (NASDAQ:CRSP), where they acquired a total of 35,598 shares across two ETFs, ARKK and ARKG, for a total value of €1,441,007. This move increases ARK's position in the gene editing company, reflecting continued interest in the genomics sector.
On the selling front, ARK divested a significant portion of its holdings in Tesla Inc (NASDAQ:), selling 18,847 shares through the ARKK ETF for a total of €8,115,518. This follows a pattern of selling in Tesla shares over the past week, suggesting a strategic reduction in ARK's exposure to the electric vehicle giant.
Palantir Technologies Inc (NYSE:PLTR) and Block Inc (NYSE:SQ) also saw disposals, with ARK parting with 42,293 and 23,962 shares, for a total of €3,412,622 and €2,139,567, respectively. These sales continue a trend of ARK divesting shares of these companies, indicating a possible shift in their investment strategy.
Additionally, ARK sold 50,163 shares of Adaptive Biotechnologies Corp (NASDAQ:ADPT) from its ARKG ETF, valued at €317,030, and 4,600 shares of Veracyte Inc (NASDAQ:VCYT) from the same ETF, for a total of €188,554.
ARK's investment moves concluded with the purchase of 53,371 shares of 10X Genomics Inc (NASDAQ:TXG) split between the ARKK and ARKG ETFs, valued at €786,154. This is on top of their purchases of 10X Genomics stock from the previous week, suggesting that ARK is optimistic about the company's long-term prospects.
Investors who follow Cathie Wood's ETFs should note these transactions as part of the fund's dynamic investment approach, which often involves high-conviction moves in innovative companies. As always, these deals provide insight into ARK's market vision and the sectors they believe are poised for future growth.
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