On Wednesday, Cathie Wood’s Ark Invest made significant trades involving Robinhood Markets Inc, Moderna Inc, Palantir Technologies Inc, and Advanced Micro Devices Inc.
Ark Invest reduced its stake in Robinhood across multiple funds, selling a total of $12.51 million worth of shares. This came as Robinhood announced a share repurchase program to return value to shareholders.
In the biotech sector, Ark Invest divested from Moderna for the second day in a row, selling shares worth approximately $5.95 million. This decision aligns with Ark’s recent pattern of reducing exposure to Moderna.
On the other hand, Ark Invest increased its position in Palantir Technologies Inc, acquiring shares worth nearly $532,000. This move was made amidst fluctuations in Palantir’s stock as investors speculate on the company’s future growth prospects.
Ark’s ARKW also made a bullish move on Advanced Micro Devices Inc, buying shares worth approximately $1.61 million. This investment followed news of AMD’s expanded partnership with Samsung.
Additionally, Ark Invest made other key trades, including purchases of Absci Corp, Guardant Health Inc, 3D Systems Corp, and Teledyne Technologies Inc.
Overall, Ark Invest’s trades reflect its strategy of actively managing its portfolio to capitalize on market opportunities and manage risk effectively.