Cathie Wood's ARK ETFs Make Strategic Moves: Rocket Lab and Butterfly Network Sold, Blade Air Mobility Bought
Cathie Wood's ARK ETFs revealed their daily trades on Monday, September 30th, 2024, showing a mix of buy and sell actions across different sectors. The most notable changes included the sale of Rocket Lab USA Inc (NASDAQ:RKLB) and Butterfly Network Inc (NYSE:BFLY).
The largest transaction of the day was the sale of 36,141 shares of Rocket Lab USA Inc (NASDAQ:RKLB) by the ARKQ ETF, totaling $353,458. This move indicates a potential shift in ARK's investment strategy in the aerospace sector.
In another significant move, ARK's ARKG ETF sold 84,065 shares of Butterfly Network Inc (NYSE:BFLY) for $132,822. This consistent selling of shares suggests a bearish outlook on the medical imaging company's prospects.
On the buying side, ARK increased its stake in Blade Air Mobility Inc (NASDAQ:), purchasing 74,266 shares across ARKQ and ARKX ETFs for a total of $219,084. This signals growing confidence in the urban air mobility service provider.
Materialise NV (NASDAQ:) also saw a reduction in shares, with ARKQ selling 21,447 shares for $114,526. This aligns with ARK's recent adjustments in the tech sector.
In smaller transactions, ARK trimmed its position in Vuzix Corp (NASDAQ:) by selling 400 shares through ARKQ and ARKW ETFs, totaling $463.
These trades reflect ARK's portfolio strategy and Cathie Wood's outlook on the market. The buying and selling patterns indicate tactical adjustments in response to market trends and performance expectations.
In summary, Cathie Wood's ARK ETFs made strategic moves by selling Rocket Lab and Butterfly Network, while increasing their stake in Blade Air Mobility. These actions showcase ARK's proactive approach to portfolio management and market dynamics.