Cathie Wood, who leads Ark Invest, made some notable moves with her exchange-traded funds on Friday. Specifically, she added shares in an operations performance platform called PagerDuty and a biotech firm named Ginkgo Bioworks Holdings.
In terms of significant purchases, Ark’s Innovation ETF (NYSEARCA: ARKK) and Ark Next Generation Internet ETF (NYSEARCA: ARKW) bought almost half a million shares of PagerDuty Inc., totaling $11.47 million. This move was prompted by the 17.12% drop in PagerDuty shares. Although the company lowered its revenue outlook, its quarterly results still managed to beat estimates.
On the other hand, Ark’s ARKK and Ark Genomic Revolution Fund (BATS:ARKG) purchased 941,017 shares of Ginkgo Bioworks Holdings, Inc., valued at $1.52 million. Ginkgo, based in Boston, develops biological engineering products and custom microbes.
However, Cathie Wood trimmed her holdings in Microsoft Corp. by selling 3,684 shares through her Ark Next Generation Internet ETF. Wood could have made approximately $1.24 million from the sale had she sold at Microsoft’s closing price of $335.40 on Friday. Even so, the tech giant is still a frontrunner in the AI race, thanks to its recent partnership with ChatGPT parent OpenAI.
After Nvidia Corp.’s recent sustained increase, Ark was criticized for not taking full advantage of the increase in share prices. Ark had sold off much of its Nvidia holdings before the chipmaker’s AI-fueled rally began. Nonetheless, in a recent interview with Bloomberg, Cathie Wood suggested that Nvidia may have gotten ahead of its fundamentals and her firm is focused on the next big AI plays.
On Friday, Microsoft shares closed at $335.40, up 0.85%, according to Benzinga Pro data. Meanwhile, PagerDuty decreased 17.12% to $23, and Ginkgo finished at $1.62, down 3.57%.