Cathie Wood’s ARK ETF Adjusts Holdings with GitLab and Amazon Stock Purchases

Cathie Wood’s ARK ETFs recently disclosed their daily trades for September 24, 2024, showcasing a series of calculated moves in the technology and biotech industries. A key highlight was the acquisition of 52,990 shares of GitLab Inc through the ARKW ETF, representing a notable investment of $2,818,008. This purchase reinforces ARK’s ongoing interest in the DevOps platform, following a significant acquisition of GitLab shares from the previous week.

Another significant transaction involved the purchase of 1,996 shares of Amazon.com Inc through the ARKQ ETF, amounting to $386,984. This decision reflects ARK’s confidence in the online retail sector.

In the biotech realm, ARK took a bullish stance on Pacific Biosciences, acquiring a total of 1,213,599 shares across the ARKK and ARKG ETFs for a combined value of $2,111,662. This investment indicates a strong belief in the long-term prospects of the genomic analysis company.

Additionally, ARK increased its position in Blade Air Mobility Inc through the ARKX ETF by buying 47,541 shares worth $143,573, demonstrating sustained interest in the urban air mobility sector.

On the selling front, ARK offloaded 7,848 shares of Butterfly Network Inc through the ARKG ETF for a modest total of $13,577. This sale aligns with a trend of reducing their stake in the medical imaging company observed in prior trading sessions.

The firm also reduced its holdings in Materialise NV, selling 34,802 shares via the ARKQ ETF for $174,706, suggesting a strategic move away from the 3D printing company, following a similar sale the week before.

Additionally, ARK divested from Roku Inc by selling 25,034 shares across the ARKK and ARKW ETFs, totaling $1,847,509. This sell-off is consistent with a recent trend of decreasing Roku holdings.

Other sales included 33,466 shares of Veracyte Inc through the ARKK ETF, valued at $1,146,545, and a minor sale of 6,983 shares of Vuzix Corp across the ARKQ and ARKW ETFs, amounting to $6,501.

In conclusion, Cathie Wood’s ARK ETFs have executed significant trades that signify a strategic realignment in their portfolio, focusing on the tech and biotech sectors. While the ETFs continue to reduce positions in certain companies, their increased investments in others like GitLab and Pacific Biosciences underscore where they envision growth potential. Investors will be keenly observing how these decisions influence the long-term performance of the ETFs.