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Cathie Wood's ARK ETF trades Tempus, DraftKings stock

Published 29/08/2024, 10:08 am
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Cathie Wood's ARK ETFs have disclosed their daily trades for Wednesday, 28 August 2024, revealing a series of moves that continue to shape the investment firm's innovative growth-focused portfolios.

Topping the list with the highest dollar-value trade, ARK has made a significant purchase in TEMPUS AI INC (NASDAQ:TEM), acquiring a total of 75,157 shares across its ARKK and ARKG ETFs, amounting to a substantial investment of $5,145,999. This purchase indicates a strong conviction in Tempus, which has been a recurring theme, as ARK also bought shares of the company on Monday, adding to its already considerable position.

ARK also showed continued interest in DRAFTKINGS INC (NASDAQ:DKNG) by buying 19,374 shares through its ARKW ETF, valued at $684,483. This move follows a pattern of accumulation, with ARK having bought shares of DraftKings (NASDAQ:DKNG) on both Monday and Tuesday, signaling a bullish stance on the online gaming company.

In the realm of e-commerce, ARK bought 9,184 shares of SHOPIFY INC (NYSE:SHOP) through its ARKW ETF, matching the dollar value of the DraftKings trade at $684,483. This trade comes after ARK also bolstered its Shopify (NYSE:SHOP) holdings on Monday, suggesting a growing confidence in the online platform's growth prospects.

On the smaller end of the scale, ARK made additional purchases, such as 82,669 shares of ABSCI CORP (NASDAQ:ABSI) for $371,183 through ARKG and 36,551 shares of BLADE AIR MOBILITY INC (NASDAQ:BLDE) for $114,770 through ARKX.

However, it wasn't all buying for ARK. The firm also trimmed its positions in several companies. The most notable sell was in GENIUS SPORTS LTD (NYSE:GENI), with ARK divesting 199,447 shares through its ARKW ETF, totaling $1,505,824. This follows a trend as ARK also sold shares of Genius Sports on Tuesday.

Other sales included 19,541 shares of TRADE DESK INC (NASDAQ:TTD) for $2,030,700 through ARKK, and smaller quantities of GINKGO BIOWORKS HOLDINGS INC (NYSE:DNA), 908 DEVICES INC. (NASDAQ:MASS), MYNARIC AG (NASDAQ:MYNA), TELADOC HEALTH INC (NYSE:TDOC), UNITY SOFTWARE INC (NYSE:U), VERACYTE INC (NASDAQ:VCYT), VERVE THERAPEUTICS INC (NASDAQ:VERV), VELO3D INC (NYSE:VLD), and VUZIX CORP (NASDAQ:VUZI).

Investors following ARK's trades are witnessing a strategic reshaping of its ETFs, with a clear focus on innovative companies that Wood and her team believe are poised for future growth. As always, these trades provide a window into the investment philosophy driving one of the most closely watched fund managers in the tech and innovation space.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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