Cathie Wood's ARK ETF had its latest round of daily trading on Tuesday, April 16, 2024, reflecting a continued strategy of dynamic portfolio adjustments. The most significant trade of the day was the sale of DraftKings Inc (NASDAQ:) stock for a total of 285,524 shares across the ARKK ETF and ARKW ETF, valued at $12,483,109. The move represents ARK's largest transaction in dollar terms on the day and continues a recent trend that has diminished ARK's position among online sports betting companies.
The most notable sales after DraftKings in terms of trade size are: caterpillar Inc (NYSE:NYSE:) stock, ARKQ ETF is offloading 3,436 shares for a total of $1,250,394. This trade stands out as ARK's second largest trade of the day.
On the buying side, ARK was bullish on Tesla Inc (NASDAQ:), acquiring a total of 20,683 shares across three different ETFs (ARKK, ARKQ, ARKW). This represents a sizable investment of $3,339,890 for him. This buying activity is part of a recent pattern as ARK has been accumulating stakes in the electric vehicle giant over the past week.
Additionally, ARK continued to invest in the future of urban air mobility by purchasing 78,112 shares of Blade Air Mobility Inc (NASDAQ:) for a total of $299,168 through the ARKX ETF. ARK has been actively increasing his stake in the company over the past few trading sessions, following his consistent investment pattern in BLDE.
Other transactions included the purchase of 58,243 shares. Persona Ris Co., Ltd. (NASDAQ:) valued at $73,386 through the ARKG ETF. This biotech company has also been a regular on ARK's recent buy list, demonstrating its growing interest in the genomics space.
ARK ETFs are known for their focus on active management and disruptive innovation, and these daily trades provide investors with insight into the fund's strategic changes and sector bets. As always, investors are encouraged to consider these transactions in the context of their broader investment strategies and market trends.
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