Cathie Wood’s ARK ETFs have disclosed their daily trades for Monday, June 24th, 2024, showing a continued emphasis on the biotechnology sector. The trades included significant transactions in both buying and selling positions.
The most notable sale by dollar value was the large divestment from Ginkgo Bioworks Holdings Inc (NYSE:). ARK sold a total of 41,587,888 shares across its ARKK and ARKG ETFs, with a combined value of $17,649,899. This move signifies a significant sell-off in the synthetic biology company, which has been a consistent presence in ARK’s trading activity.
Another substantial sale was made in Coinbase Global Inc (NASDAQ:) by ARK’s ARKW ETF, shedding 3,341 shares worth $754,598. This sale comes at a challenging time for the cryptocurrency exchange platform, indicating a potential shift in ARK’s investment strategy concerning digital assets.
On the buying side, ARK’s ARKK ETF made a noteworthy investment in 10X Genomics Inc (NASDAQ:TXG), acquiring 353,815 shares valued at $6,948,926. This demonstrates a strong vote of confidence in the genomics company, which has been a frequent target for ARK’s investments.
Additionally, ARK’s ARKK ETF increased its position in Roku Inc (NASDAQ:) by purchasing 32,989 shares for $1,794,601. This purchase reflects a sustained positive outlook on the streaming device manufacturer, despite the competitive nature of the streaming market.
Adaptive Biotechnologies Corp (NASDAQ:) saw an increase of 129,816 shares bought through the ARKG ETF, totaling $420,603, indicating ARK’s ongoing interest in the adaptive immune system profiling company.
Other notable buys included ABSCI Corp (NASDAQ:ABSI) with 43,936 shares for $132,686, and PagerDuty Inc (NYSE:NYSE:) with 11,850 shares at $253,589. These transactions may suggest a developing trend as ARK has consistently boosted its holdings in these companies recently.
Smaller-scale transactions involved the purchase of shares in Markforged Holding Corp (NYSE:MKFG) and a sale of shares in Verve Therapeutics Inc (NASDAQ:VERV), among others. While these trades are less significant in terms of dollar value, they still contribute to ARK’s overall investment strategy.
As ARK continues to adjust its portfolio, market observers will be interested to see how these trades impact broader market trends and the performance of the individual companies involved.