Cathie Wood’s ARK ETFs made notable moves in the market on Friday, April 5, 2024, as reported in their daily trading summary. Leading the purchases, ARK purchased a significant amount of Tesla Inc (NASDAQ:) stock, adding 133,975 shares to its ARKK and ARKW ETFs, for a total dollar value of $22,924,462. This move highlights ARK’s continued confidence in the electric vehicle giant, which has been a consistent trend as the fund has piled into Tesla shares in recent days.
ARK also increased its holdings in Year Inc (NASDAQ:), purchasing 154,401 shares through ARKK and ARKW, valued at $9,301,116. This purchase follows an investment pattern in the streaming device company, suggesting a bullish stance on Roku’s market position and growth potential.
On the sell side, ARK has shed a sizable number of shares Robinhood Markets Inc (NASDAQ:), dumping a total of 925,585 shares across three ETFs – ARKK, ARKW and ARKF – with a total value of $17,077,043. This move indicates a significant reduction in ARK’s position in the online brokerage platform.
ARK also sold shares of Global Coinbase Inc (NASDAQ:), with a total of 62,615 shares sold for a value of $15,629,330. The sale was split between the ARKK and ARKW ETFs, marking another step back by the cryptocurrency exchange firm.
Smaller but still noteworthy trades include purchasing 3,495 shares of Roblox Corp (NYSE:RBLX) worth $128,615 and 31,118 shares of Staff Inc (NASDAQ:) for $43,565 via the ARKG ETF. Also, ARK purchased 4,436 shares of 10X Genomics Inc (NASDAQ:TXG) between ARKK and ARKG for a total of $158,542.
These transactions reflect ARK’s ongoing strategy to invest in disruptive innovation and technology, while adjusting its portfolio in response to market dynamics. The heavy investment in Tesla, along with the recent build-up in Roku and Personalis shares, contrasts with the significant sell-offs in Robinhood and Coinbase, highlighting ARK’s active management approach to capitalize on perceived growth opportunities and divest from less favorable positions.
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