Cathie Wood’s ARK ETF adjusts portfolio, sells Palantir and Veeva shares by Investing.com

Cathie Wood’s ARK ETFs made several notable transactions on Wednesday, 9/18/2024, indicating strategic adjustments in their technology and healthcare-focused portfolios. In a number of trading activities, the ARK ETFs engaged in both buying and selling, with the most notable sale involving 32,772 shares of Palantir (NYSE:) Technologies Inc (NYSE:PLTR) valued at approximately $1.19 million.

On the buy side, ARK continued to show interest in Tempus AI Inc (NYSE:TEM), convincing 16,234 shares worth nearly $799,199. This move indicated a growing trend as ARK had already acquired a significant number of shares of the AI-powered company in the previous week.

ARK also sold 47.38 shares of Veeva Systems Inc (NYSE:VEEV) valued at just over $1 million. This sale marks a significant reduction in its position in the cloud computing company that specializes in applications for the pharmaceutical and life sciences industries.

In other transactions, ARK reduced its holdings in Robinhood Markets Inc (HOOD), selling 24,796 shares through its ARKF ETF for a total of $561,381. This move comes after a similar sell-off earlier in the week and indicates a strategic shift by the financial services company.

ARK also reduced its investment in Butterfly Network Inc (NYSE:BFLY), a company focused on medical imaging technology. The ARKG ETF sold 99,485 BFLY shares for a total value of $191,011.

On a smaller scale, ARK sold shares of Intuitive Surgical Inc (NASDAQ:ISRG), Materialise NV (NASDAQ:MTLS) and Mynaric AG (NASDAQ:MYNA) for total values ​​of $175,928, $65,216 and $6,447, respectively.

In a consistent pattern, ARK has been dumping certain holdings while increasing its position in others, such as 3D Systems Corp (NYSE:DDD). The combined purchase of 52,677 DDD shares by the ARKQ and ARKX ETFs, valued at $138,013, is in line with previous days’ accumulations and suggests a bullish view on the 3D printing company.

Most recently, ARK ETFs sold minor stakes in Roblox Corp (NYSE:RBLX) and Vuzix Corp (NASDAQ:VUZI) with sales of $513,843 and $8,797, respectively.

Investors and market observers continue to closely monitor Cathie Wood’s ARK ETFs to gain insight into the evolving strategies of one of the most closely watched fund managers in the technology and innovation space.

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