📖 Your Q2 Earnings Guide: Discover the Stocks ProPicks AI Highlights to Jump Post-EarningsRead more

Cathie Wood's ARK ETF adjusts holdings, buys Amazon stock, sells ServiceNow

EditorLina Guerrero
Published 06/06/2024, 08:04 PM
© Reuters.

Cathie Wood's ARK ETF published their daily trades for Thursday, June 6th, 2024, with a series of notable buy and sell actions that could signal shifting strategies for the high-profile fund manager. Leading the day's activity, ARK's ARKW ETF invested heavily in Amazon.com Inc (NASDAQ:AMZN), purchasing 53,368 shares valued at approximately $9.67 million. This move comes as ARK appears to be reinforcing its bet on the e-commerce giant.

On the sell side, ARK's ARKW ETF parted with 14,121 shares of ServiceNow Inc (NYSE:NYSE:NOW), a cloud computing company, in a transaction worth nearly $9.94 million. This sell-off represents one of the largest single-stock value trades for the day from the ARK funds.

The daily report also showed a sale of 67,154 shares of Exact Sciences Corp (NASDAQ:EXAS) across two ETFs, ARKK and ARKG, for a combined value of about $3.06 million. This continues a trend seen in recent days, indicating that ARK may be reducing its position in the diagnostics company.

Meanwhile, ARK's ARKK and ARKG ETFs bought a significant stake in Intellia Therapeutics Inc (NASDAQ:NTLA), adding 137,139 shares worth roughly $3.17 million. This purchase aligns with ARK's known focus on innovative biotech firms and follows a pattern of accumulating Intellia shares over the past week.

PagerDuty Inc (NYSE:NYSE:PD) also saw increased interest from ARK, with 131,026 shares acquired across ARKK and ARKW ETFs, totaling approximately $2.54 million. This investment in the digital operations management platform adds to a growing position in recent days.

Other notable purchases included smaller stakes in Beam Therapeutics Inc (NASDAQ:BEAM), Markforged Holding Corp (NYSE:MKFG), Reddit Inc (NASDAQ:RDDT), Veracyte Inc (NASDAQ:VCYT), and Verve Therapeutics Inc (NASDAQ:VERV), with total dollar values ranging from $1,406 for Markforged to $267,783 for Veracyte.

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

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.