Cathie Wood has made quite a name for herself as the top growth stock picker at Ark Invest in recent years.
When she either speaks or invests in a stock, investors pay attention.
But apparently she does not buy or sell many stocks on a day to day basis, so when Wood’s Ark Invest portfolio does raise the number of daily trades of a specific security, someone is bound to notice.
Wood has spent the last seven trading days buying metal 3D printing company Velo3D (VLD) , the past eight sessions buying human tissue 3D printing company Organovo (ONVO) – Get Free Report, and the past nine sessions buying clinical-stage oncology treatment company Repare Therapeutics (RPTX) – Get Free Report.
In 2022, Wood acquired 10.1 million new shares of Velo3D worth about $32 million, according to Stock Circle, bringing her ownership of outstanding stock to 5.8%.
She started building her position in the company in third quarter 2021, adding nearly 4 million shares, and continued to add to her position through third quarter 2022. She finally began to sell some shares in the fourth quarter, dumping about 953,000, but it seems she is back to her old accumulation strategy in the first quarter of 2023.
The stock has been gradually sinking over the past 16 months, going from an average closing price of $9.45 in Q4 2021 to a closing price of $3.16 on Tuesday.
Wood ended each quarter of the last two years selling off her stake in Organovo, according to Stock Circle, and the holdings value at the end of Q4 2022 was just $373,000.
Wood purchased a big chunk of Repare Therapeutics on Friday, adding more than 41,000 shares, but as averaged daily purchases of just a couple of thousands of shares during her recent buying streak, according to Cathie’s Ark, a website that tracks her purchases.