Cathie Wood's ARK Adds More Tesla Stock, Sells DraftKings By | Old North State Wealth News
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Cathie Wood’s ARK adds more Tesla stock, sells DraftKings By



Cathie Wood’s ARK ETFs disclosed their daily trades for Tuesday, April 2nd, 2024, with significant activity in both purchasing and selling across various sectors. The most noteworthy trade of the day was the sale of DraftKings Inc. (NASDAQ:), with ARK offloading a substantial 481,452 shares from its ARKK and ARKW ETFs, amounting to a total dollar value of $21,636,452.

Another major transaction was the sale of shares in Exact Sciences Corp (NASDAQ:), with 266,380 shares sold between the ARKK and ARKG ETFs, totaling $18,755,816 in value. These sales could indicate a strategic shift in ARK’s portfolio or a response to market conditions.

On the buying side, Tesla Inc (NASDAQ:) continued to be a favorite, with ARK purchasing 234,998 shares across three of its ETFs, representing a massive investment of $41,176,349. This move reinforces ARK’s bullish stance on Tesla, which has been a recurring trend in recent trades.

Kratos Defense & Security (NASDAQ:) also saw a notable increase in holdings, with ARK buying 107,711 shares through its ARKQ and ARKX ETFs, valued at $1,977,574. This purchase aligns with ARK’s interest in defense and aerospace technologies, sectors that have been receiving increasing attention from the investment community.

ARK also increased its position in Moderna Inc (NASDAQ:) by acquiring 14,447 shares through its ARKG ETF, totaling $1,525,603. This trade reflects ARK’s ongoing investment in the biotechnology sector, especially in companies at the forefront of innovation and drug development.

Other significant buys included 190,362 shares of Pacific Biosciences (NASDAQ:) of California (NASDAQ:PACB) and 42,007 shares of Pinterest Inc (NYSE:NYSE:), with total dollar values of $694,821 and $1,483,687, respectively. These trades demonstrate ARK’s diverse interest in both the health technology and social media spaces.

Personalis Inc (NASDAQ:) saw a smaller purchase of 23,786 shares, but this follows a pattern of consistent buying in the genomics company, as seen in previous trades, suggesting a growing confidence in its long-term potential.

Overall, Cathie Wood’s ARK ETFs continue to make bold moves in the market, with a clear focus on innovation-driven companies. Investors and market watchers alike will be keen to see how these trades play out in the context of ARK’s broader investment strategy.

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