Cathie Wood’s ARK ETFs Adjust Holdings by Selling BFLY and RKLB Stocks

Cathie Wood’s ARK ETFs have reported their daily trades for Monday, September 30, 2024, showcasing a blend of buying and selling activities across different sectors. Notably, the trading activity involved a significant turnover of holdings, particularly with the sale of Rocket Lab USA Inc and Butterfly Network Inc.

The largest transaction of the day involved the ARKQ ETF selling 36,141 shares of Rocket Lab USA Inc, with a total value of $353,458. This divestment follows a series of sales from the aerospace manufacturer, suggesting a potential strategic shift in ARK’s investment approach within this sector.

Continuing the trend, ARK’s ARKG ETF divested 84,065 shares of Butterfly Network Inc, valued at $132,822. The medical imaging firm has been consistently featured on ARK’s sell list in recent days, indicating a bearish sentiment regarding its future prospects.

On the buying front, ARK demonstrated increased interest in Blade Air Mobility Inc, acquiring a total of 74,266 shares across its ARKQ and ARKX ETFs for a collective value of $219,084. This acquisition aligns with a pattern of accumulating BLDE stock observed in trades from the previous week, signaling ARK’s growing confidence in the urban air mobility service provider.

Materialise NV also saw a reduction, with the ARKQ ETF selling 21,447 shares for $114,526. This sale continues ARK’s recent strategy of adjusting its holdings in the tech sector.

In smaller transactions, ARK made a slight reduction to its position in Vuzix Corp, selling 400 shares through the ARKQ and ARKW ETFs at a total value of $463.

These trades may provide investors and market observers insights into ARK’s broader portfolio strategy, reflecting Cathie Wood’s perspective on the changing market landscape. The consistent buying and selling of certain stocks could represent ARK’s tactical adjustments in response to performance forecasts and market trends.

This article was generated with the support of AI and reviewed by an editor.