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On Friday, Cathie Wood-led Ark Invest made significant trades, with a particular focus on the tech and hospitality sectors.
The most prominent trades of the day involved shares of Airbnb Inc. (NASDAQ:ABNB), BWX Technologies Inc. (NYSE:BWXT), Taiwan Semiconductor Manufacturing Co. Ltd. (NYSE:TSM), Advanced Micro Devices Inc. (NASDAQ:AMD), Robinhood Markets Inc. (NASDAQ:HOOD), Shopify Inc. (NYSE:SHOP), and Veracyte Inc. (NASDAQ:VCYT). Meanwhile, Ark Invest sold off shares of Circle Internet Group Inc. (NASDAQ:CRCL), DoorDash Inc. (NYSE:DASH) and Adaptive Biotechnologies Corp. (NASDAQ:ADPT)
The ABNB Trade: Ark Invest’s ARK Innovation ETF (BATS:ARKK) fund purchased 162,255 shares of Airbnb, a move that signals confidence in the hospitality industry’s recovery. The value of this trade, based on the closing price of the day, is around $21.73 million.
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The AMD Trade: Ark Invest’s ARKK and ARK Fintech Innovation ETF (NYSE:ARKF) funds bought a total of 189,060 shares of Advanced Micro Devices Inc. This investment comes amidst growing interest in the tech sector. The value of this trade, calculated from the closing price of the day, is around $24.25 million.
The SHOP Trade: Ark Invest’s ARKF and ARKK funds acquired a total of 166,093 shares of Shopify. This purchase underscores Ark Invest’s belief in the continued growth of e-commerce platforms. The value of this trade, based on the closing price of the day, is around $17.67 million.
The CRCL Trade: Ark Invest’s ARKF, ARKK, and ARK Next Generation Internet ETF (NYSE:ARKW) funds sold a total of 615,175 shares of Circle Internet Group Inc. This decision follows Ark Invest’s earlier move to offload shares of the company. The value of this trade, calculated from the closing price of the day, is around $147.81 million.
Other Key Trades:
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Posted In: ABNB ADPT AMD ARKF ARKG ARKK ARKW BWXT CRCL DASH HOOD SHOP TSM VCYT