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Cathie Wood’s ARK ETF focuses on PagerDuty, 10X Genomics stock By

Cathie Wood’s ARK ETFs made notable moves in the stock market on Friday, June 28, 2024, with significant transactions in a number of companies. The largest trade in dollar value was the purchase of 121,499 shares of PagerDuty Inc (NYSE:) valued at approximately $2,765,317. This move indicates a strong bullish stance towards the company as ARK has also been buying shares of PagerDuty in the previous trading sessions, indicating a trend towards accumulation.

Another significant trade was the investment in 282,804 shares of 10X Genomics Inc (NASDAQ:TXG) totaling $5,613,659. ARK’s continued interest in this stock over the past few days underscores its confidence in the genomics analysis company’s growth potential.

ARK also continued to buy shares of Absci Corp (NASDAQ:ABSI), adding 143,573 shares to its ARKG ETF following continuous purchases over the past week. This trend reflects ARK’s strategy of investing in breakthrough innovations in the healthcare sector.

In contrast, ARK has engaged in significant selling, including selling 25,221,264 shares of Ginkgo Bioworks Holdings Inc (NYSE:NYSE:) for a staggering $7,798,414. This continues a selling pattern for Ginkgo Bioworks, as ARK has been reducing its position in the company over several trading days.

In addition, ARK sold 3,279 shares of Coinbase Global Inc (NASDAQ:) through its ARKW ETF, with the total value of the sale being $734,496. The sale is part of a series of transactions that reduced the cryptocurrency exchange’s stake.

Other daily transactions included the purchase of 16,186 shares of Adaptive Biotechnologies Corp (NASDAQ:) and the acquisition of 6,073 shares of Blade Air Mobility Inc (NASDAQ:). In addition, ARK purchased 35,400 shares of Markforged Holding Corp (NYSE:MKFG) and sold a smaller amount of 1,100 shares of Velo3D Inc (NYSE:NYSE:).

Investors who follow Cathie Wood’s ARK ETFs will likely pay close attention to these transactions, as they can provide insight into the fund’s strategic direction and conviction in various market sectors.

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