Cathie Wood's Ark Invest has recently adjusted its portfolio, notably reducing its holdings in e-commerce giant Shopify and data analytics firm Palantir Technologies. These moves come as part of Ark Invest's ongoing active trading strategy, which also includes increasing stakes in other companies.
Key Takeaways
- Ark Invest has sold shares of Shopify (SHOP) and Palantir Technologies (PLTR).
- The firm has also reduced its stake in Brera Holdings (SLMT).
- Concurrently, Ark Invest has increased its investments in Alibaba (BABA) and Pony.ai.
Divestment from Shopify and Palantir
Ark Invest's ETFs, including the ARK Fintech Innovation Fund (ARKF), have been actively selling shares of Shopify. One report indicates the ARKF ETF sold 8,286 shares of Shopify, valued at approximately $1.25 million. This follows previous reductions in the company's position. Similarly, the ARKF ETF also sold 3,170 shares of Palantir Technologies, totaling around $556,144. These sales represent a continuation of Ark's strategy to trim exposure to these technology-focused companies.
Other Portfolio Adjustments
In addition to Shopify and Palantir, Ark Invest has also offloaded shares of Brera Holdings PLC (NASDAQ:SLMT). The ARK Innovation ETF (ARKK) sold 3,914 shares of the digital asset treasury and crypto infrastructure firm. This divestment from Brera Holdings has been a consistent pattern in recent trading sessions for Ark.
Increased Holdings in Alibaba and Pony.ai
On the buying side, Ark Invest has been increasing its exposure to international and emerging technology companies. The ARK Innovation ETF (ARKK) added over 4,000 shares of Chinese tech major Alibaba (BABA), bringing its total investment to approximately $44 million. Furthermore, Ark purchased more than 10,000 shares of autonomous mobility startup Pony.ai through its Autonomous Technology and Robotics ETF, following positive analyst coverage.
These trading activities highlight Ark Invest's dynamic approach to portfolio management, with strategic buys and sells aimed at navigating market conditions and capitalizing on perceived opportunities.
Sources
- Cathie Wood's Ark Invest weekly recap: sheds shares in Palantir Technologies, Shopify, Roblox, Seeking Alpha.
- Cathie Wood’s ARK sheds Shopify and Palantir stock By Investing.com, Investing.com.
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Cathie Wood Continues Trimming Stakes in Palantir, Shopify and Brera Holdings -
TipRanks.com, TipRanks. - Cathie Wood Dumps Palantir, Shopify Shares -- Loads Up on Alibaba and Pony.ai — TradingView News, TradingView.
