ARK Invest, led by Cathie Wood, continues to sell its Circle shares, taking profits from their rise post-IPO.
ARK Invest's Sale of Circle Shares
ARK Invest sold 609,175 shares of Circle from three of its funds, amounting to approximately $146.2 million according to portfolio disclosures dated June 20. The sales were made across the ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF), with respective amounts of 490,549 CRCL, 75,018 CRCL, and 43,608 CRCL.
Current ARK Position in Circle
Despite recent sales, ARK Invest remains one of the largest holders of Circle shares. The firm made an initial purchase of 4.5 million shares shortly after the stock launched and still holds over 3.2 million shares.
Circle Stock Price Dynamics
Since its launch, Circle shares have surged over 400%, currently trading around $240 compared to the initial listing price of $31. With the latest sales, ARK Invest has locked in approximately $243 million in profits from selling Circle shares.
Thus, ARK Invest continues to strategically manage its Circle stock portfolio despite active sales, remaining a significant player in the market with assets that have substantially appreciated.
