On Tuesday, December 31, 2024, Cathie Wood-led Ark Invest executed significant trades, prominently selling shares of Tesla Inc. (NASDAQ: TSLA).
The decision comes amid fluctuating market conditions, with Tesla’s stock closing at $403.84, down 3.25% for the day.
The TSLA Trade: Ark Invest’s flagship ETF, ARKK, sold a total of 125,868 shares of Tesla Inc. (NASDAQ: TSLA) on December 31.
This transaction amounted to approximately $50,765,000, calculated from the closing price of $403.84.
This notable divestment reflects a strategic move by Ark to adjust its portfolio amidst a downturn, as Tesla’s stock has seen a decrease of $13.57 per share on the same day.
It is worth noting that sometimes Ark is forced to make changes to its top holdings to maintain balance in its portfolio.
In addition, the ARKQ fund also sold 26,826 shares of Tesla, contributing an additional $10,826,000 to the total sales value.
GitLab and Other Trades: Alongside the Tesla trades, ARKK also made a notable purchase of 245,243 shares of GitLab Inc. (NASDAQ: GTLB), valued at around $13,800,000 based on its closing price of $56.35. Furthermore, Ark acquired 84,781 shares of Teradyne Inc. (NASDAQ: TER), worth approximately $10,675,000.
Other Key Trades:
- Sold 17,436 shares of Adaptive Biotechnologies Corp (NASDAQ: ADPT) from ARKG, totaling about $104,000.
- Purchased 6,853 shares of 10X Genomics Inc. (NASDAQ: TXG) through ARKG, valued at approximately $98,000.
- Acquired 78,536 shares of Illumina Inc. (NASDAQ: ILMN) via ARKK, worth around $10,500,000.
- Invested in 61,913 shares of Natera Inc. (NASDAQ: NTRA) through ARKK, amounting to about $9,800,000.
- Added 52,243 shares of Advanced Micro Devices Inc. (NASDAQ: AMD) in ARKK, worth approximately $6,300,000.
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