Cathie Wood’s ARK Adds Tesla Stock, Sells DraftKings By Investing.com

Cathie Wood’s ARK ETF opened for daily trading on Tuesday, April 2, 2024, with significant activity in both buying and selling across a variety of sectors. The most notable transaction of the day was the sale of DraftKings Inc. (NASDAQ:), where ARK sold a significant 481,452 shares in the ARKK and ARKW ETFs, for a total dollar value of $21,636,452.

Another major transaction was the sale of shares of Exact Sciences Corp (NASDAQ:), where 266,380 shares were sold between the ARKK and ARKG ETFs, for a total value of $18,755,816. These sales may represent strategic changes in ARK’s portfolio or in response to market conditions.

On the buy side, Tesla Inc (NASDAQ:) continued to be popular, with ARK purchasing 234,998 shares across 3 ETFs, representing a significant investment of $41,176,349. The move reinforces ARK’s bullish stance on Tesla, which has been a recurring trend in recent trading.

Kratos Defense & Security (NASDAQ:) also saw a notable increase in its holdings, with ARK purchasing 107,711 shares (worth $1,977,574) through the ARKQ and ARKX ETFs. The purchase is consistent with ARK’s interest in defense and aerospace technology, a sector that is receiving increasing attention from the investment community.

ARK also modern Inc (NASDAQ:) acquired 14,447 shares totaling $1,525,603 through the ARKG ETF. This transaction reflects ARK’s continued investment in the biotechnology sector, particularly in companies at the forefront of innovation and drug development.

Other significant purchases included 190,362 shares of Pacific Biosciences (NASDAQ:) of California (NASDAQ:PACB); Pinterest Inc. (NYSE:NYSE:), with a total dollar value of $694,821 and $1,483,687, respectively. These deals demonstrate ARK’s diversified interests in both the medical technology and social media spaces.

Private Inc (NASDAQ:) saw small purchases of 23,786 shares, but this follows a consistent buying pattern for the genomics company as seen in previous trading, suggesting growing confidence in its long-term potential.

Overall, Cathie Wood’s ARK ETF continues to make bold moves in the market with a clear focus on innovation-driven companies. Investors and market observers alike will be interested to see how these deals play out in the context of ARK’s broader investment strategy.

This article was sponsored by AI and reviewed by an editor. Please see our T&Cs for more details.