Cathie Wood’s ARK ETFs have unveiled their daily trades for Thursday, April 18th, 2024, spotlighting a persistent focus on cryptocurrency-related funds alongside a series of tactical sell-offs across various sectors. Leading the day’s transactions, ARK’s ARKF ETF notably augmented its position by adding 490,751 shares of ARK 21Shares Bitcoin ETF (ARKB), amounting to a substantial investment of approximately $29.96 million. This move, following a similar purchase the day prior, underscores ARK’s pronounced bullish stance on Bitcoin.
In tandem with the Bitcoin ETF, ARK demonstrated an increased interest in Ethereum, with the ARKW ETF acquiring 22,461 shares of ARK 21Shares Active Ethereum Futures Strategy ETF (ARKZ). This strategic investment aligns with ARK’s objective to capitalize on the burgeoning interest surrounding the second-largest cryptocurrency by market capitalization.
Further reaffirming ARK’s commitment to the crypto space, the fund acquired 42,800 shares of ProShares Ether Strategy ETF (EETH) through its ARKW ETF, valued at approximately $2.83 million.
While maintaining a steadfast focus on the electric vehicle industry, ARK continued its accumulation of Tesla Inc (NASDAQ:TSLA) stock, acquiring 88,720 shares, totaling nearly $13.79 million. This purchase underscores Cathie Wood’s enduring confidence in Tesla’s long-term prospects as a leader in the EV sector.
On the divestment front, ARK reduced its holdings in various companies. Notably, the ARKK ETF sold 209,511 shares of DraftKings Inc (NASDAQ:DKNG), amounting to $8.84 million. This move reflects a broader trend, as ARK has consistently reduced its exposure to DraftKings stock over the past week.
In the tech sector, ARK divested 150,700 shares of Zoom Video Communications Inc (NASDAQ:ZM) across its ARKK and ARKW ETFs, totaling $8.9 million. Additionally, the fund offloaded 182,748 shares of Twilio Inc (NYSE:TWLO) through its ARKF ETF, valued at over $10.73 million.
In the biotech domain, ARK exhibited mixed activity, acquiring 116,395 shares of 10X Genomics Inc (NASDAQ:TXG) while divesting positions in companies such as Exact Sciences Corp (NASDAQ:EXAS) and Regeneron Pharmaceuticals Inc (NASDAQ:REGN).
Other notable sales included reductions in holdings of MercadoLibre Inc (NASDAQ:MELI), NU Holdings Ltd (NYSE:NU), StoneCo Ltd (NASDAQ:STNE), and Vertex Pharmaceuticals Inc (NASDAQ:VRTX).
ARK’s ongoing portfolio adjustments offer investors insights into the fund’s strategic reallocations and its outlook on sectors poised for growth or in need of rebalancing. The consistent investment in cryptocurrency ETFs reflects ARK’s confidence in the resilience and growth potential of digital assets, while divestments from companies like DraftKings and Twilio may signal a shift of resources towards other opportunities or a response to market dynamics.
