Cathie Wood’s ARK Invest ETFs made several notable moves on Tuesday, December 9, according to the firm’s daily trade disclosures. While ARK increased its exposure to the ARK 21Shares Bitcoin ETF (ARKB), the firm also trimmed positions across several innovation-focused names, including Ibotta (IBTA), Iridium Communications (IRDM), and Adaptive Biotechnologies (ADPT), along with a few smaller biotech holdings.
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Wood Invests Heavily in Bitcoin
Two ARK funds added to their holdings of the ARK 21Shares Bitcoin ETF (ARKB). The ARK Fintech Innovation ETF (ARKF) bought 5,754 shares, while the ARK Next Generation Internet ETF (ARKW) picked up 49,246 shares, a combined purchase worth about $1.7 million at ARKB’s last close of $30.92.
The purchases come at a time when Bitcoin has been very volatile, with early trading often wiping out the gains made overnight. Even so, expectations of future Fed rate cuts and improving regulatory clarity have helped support overall sentiment.
Meanwhile, a new Commodity Futures Trading Commission (CFTC) framework that allows approved firms to use major tokens and stablecoins as margin has also strengthened Bitcoin’s position within traditional financial markets.
Wood Reduces Exposure to Select Tech and Genomics Stocks
Alongside the ARKB buy, ARK trimmed several positions across its ETFs. The firm reduced its stake in Ibotta (IBTA), a digital promotions and rewards platform, with ARKF selling 52,047 shares and ARKW offloading 47,141 shares. ARK also cut more of its position in Iridium Communications (IRDM), the satellite network operator, including 23,994 shares sold from ARKK.
In the genomics sleeve, the ARK Genomic Revolution ETF (ARKG) exited 90,807 shares of Adaptive Biotechnologies (ADPT).
Meanwhile, the ARK Autonomous Technology & Robotics ETF (ARKQ) cut 2,253 shares of Teradyne (TER), trimming its exposure to semiconductor testing equipment.
How Wall Street Sees These Four Stocks
Let’s see how some of these stocks perform using the TipRanks Stock Comparison Tool:
Adaptive Biotechnologies stands out with a Strong Buy consensus and about 36% upside potential. At the same time, Iridium also shows solid upside at nearly 45%, with analysts assigning a Moderate Buy rating. Meanwhile, Ibotta carries a Hold rating despite about 23% upside, and Teradyne is expected to see a slight downside from current levels.
