Cathie Wood’s ARK Invest continues to benefit from Circle’s stellar stock performance post-IPO. The firm has been gradually selling Circle shares to lock in profits,as the stock price soars.
On June 20, ARK sold 609,175 Circle shares from three of its funds, according to recent portfolio disclosures. This sale, worth about $146.2 million, was split between ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF).
The timing of these sales aligns with sharp increases in CRCL’s stock price. Following the latest sale, Circle’s stock rose 20.4%. Earlier sales on June 16 and 17 were worth about $52 million and $45 million, respectively.
Despite these sell-offs, ARK remains one of the largest holders of Circle shares, with over 3.2 million shares left in its portfolio. This position is valued at roughly $779 million.
since its IPO, Circle’s stock has surged over 400%, currently trading around $240 from its initial listing price of $31. The firm’s largest shareholder is the IDG-Accel China Capital Fund II,holding 23.3 million shares.
ARK Invest’s strategic sales highlight its ability to capitalize on market opportunities. Circle’s success further cements its place in ARK’s top holdings, alongside other major stocks like Tesla (TSLA) and Robinhood (HOOD).
