Cathie Wood's Ark Invest Reduces Tesla Position While Increasing Cryptocurrency and Biotech Investments
Ark Invest executed significant portfolio adjustments on Thursday, selling Tesla shares while increasing positions in Coinbase and other innovative companies.
Ark Invest sold 23,110 Tesla shares valued at approximately $11.2 million through its Innovation ETF on Thursday. Simultaneously, the firm purchased 17,386 Coinbase shares across three ETFs for around $4.15 million, capitalizing on Coinbase's expansion into commission-free stock trading and tokenized assets.
Additionally, Ark Invest significantly increased its Brera Holdings position by acquiring 575,644 shares for $1.4 million. The firm also made other strategic trades, including selling Ionis Pharmaceuticals shares while purchasing Recursion Pharmaceuticals shares.
These transactions demonstrate Ark Invest's active management approach and continued focus on innovative technology and healthcare sectors.
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