Cathie Wood's ARK ETFs have made significant trades on Wednesday, June 5th, 2024, with a particular focus on the healthcare and technology sectors. The largest transaction of the day was the sale of 62,371 shares of Zoom Video Communications Inc (NASDAQ:ZM), valued at approximately $3,837,687. This move comes amidst a series of recent sales of Zoom stock by ARK, indicating a potential strategic shift away from the video conferencing giant.
On the buying side, ARK increased its holdings in Intellia Therapeutics Inc (NASDAQ:NTLA) with the purchase of 66,388 shares across its ARKK and ARKG ETFs, totaling $1,543,521 in value. This acquisition is part of a continuing trend, as ARK has been consistently adding to its Intellia position over the past week, signaling a bullish stance on the gene-editing company's prospects.
Another notable buy was 43,192 shares of PagerDuty Inc (NYSE:NYSE:PD), a cloud computing company, which ARK distributed between its ARKK and ARKW ETFs for a total investment of $835,765. The consistent accumulation of PagerDuty shares also suggests ARK's confidence in the company's growth trajectory.
Additionally, ARK has made smaller-scale investments, including the purchase of 900 shares of Markforged Holding Corp (NYSE:MKFG) for $395 and 1,301 shares of the newly public Reddit Inc (NASDAQ:RDDt) for $70,904 through its ARKF ETF.
In terms of divestments, ARK sold 32,165 shares of Exact Sciences Corp (NASDAQ:EXAS), a molecular diagnostics company, for a total of $1,397,569. This follows a pattern of selling EXAS shares over the previous days. Furthermore, ARK offloaded 169,739 shares of Verve Therapeutics Inc (NASDAQ:VERV) for $897,919 and a smaller quantity of 7,350 shares of Velo3D Inc (NYSE:NYSE:VLD) at $1,139.
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