Cathie Wood’s ARK ETFs revealed their daily trades for Thursday, 31 October 2024, with a significant reshuffling of their holdings. The investment management firm, known for its focus on disruptive innovation, made notable transactions across various sectors, with an emphasis on technology and healthcare stocks.
The most substantial purchase of the day was in Roku Inc (NASDAQ: ROKU), with ARK buying a total of 308,892 shares across three of its funds, amounting to a total dollar value of $23,942,219. This move indicates a bullish stance on the streaming device company, which has seen its stock price fluctuate in recent months.
In the biotech sphere, ARK continued to invest heavily in Natera Inc (NASDAQ: NTRA), purchasing 131,972 shares for a total value of $16,724,812. This follows a pattern of consistent buying, suggesting ARK’s confidence in the genetic testing company’s growth prospects.
On the selling side, ARK divested a significant portion of its holdings in Block Inc (NYSE:SQ), formerly known as Square, shedding 243,549 shares for $17,849,706. This sale could be indicative of a strategic pivot or a response to recent market trends affecting the payments industry.
Another notable sale was of Palantir Technologies Inc (NYSE:NYSE: PLTR), with ARK selling 334,767 shares totaling $14,625,969. This decision comes amidst a backdrop of the data analytics firm’s variable performance and potential adjustments in ARK’s investment thesis.
Additionally, Roblox Corp (NYSE:RBLX) saw a reduction in ARK’s stake, as 339,352 shares were sold for $14,639,645. The gaming platform has been a volatile stock, and ARK’s sale might reflect a move to capitalize on recent price movements or rebalance its portfolio.
In the pharmaceutical sector, ARK sold 50,200 shares of Moderna Inc (NASDAQ:MRNA) for $2,746,944, possibly taking profits or reallocating funds following the biotech firm’s rollercoaster ride since the onset of the pandemic.
Other trades included buying shares of Beam Therapeutics Inc (NASDAQ:BEAM), Recursion Pharmaceuticals Inc (NASDAQ:RXRX), and Tempus AI Inc (NYSE:TEM), while selling shares of Nurix Therapeutics Inc (NASDAQ:NRIX) and Tesla Inc (NASDAQ:TSLA).
Overall, ARK’s trading activity reflects an ongoing strategy to invest in companies with transformative potential while remaining responsive to market dynamics. Investors closely watch these trades for insights into Cathie Wood’s outlook on the evolving landscape of innovative industries.
