Cathie Wood’s ARK Invest Shifts Focus to Biotech and AI, Trims Semiconductor Holdings
Cathie Wood's ARK Invest ETFs executed significant portfolio adjustments on October 16, emphasizing fintech and technology stocks. The ARK Genomic Revolution ETF (ARKG) led the charge with a $2 million purchase of Genedx Holdings (WGS), a genetic testing firm leveraging DNA sequencing to diagnose rare diseases. This MOVE underscores ARK's growing conviction in companies transforming genomic data into clinical solutions.
The ARK Autonomous Technology & Robotics ETF (ARKQ) bolstered its position in self-driving technology, acquiring $373,000 worth of Pony.ai (PONY) shares. Meanwhile, ARKG divested $1.3 million in Quantum-Si Inc. (QSI), reflecting cooling sentiment toward semiconductor-based life sciences amid sluggish adoption trends. ARK Innovation ETF (ARKK) made nominal reductions in Brera Holdings (SLMT).
