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ARK Invest Trims Circle Stake Despite 250% Post-IPO Rally
ARK Invest Trims Circle Stake Despite 250% Post-IPO Rally
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BTCCSquare news:
Cathie Wood's ARK Invest sold $146.2 million worth of Circle (CRCL) shares on Friday, capitalizing on a 248% surge since the company's June 5 NYSE debut. The transaction involved 609,175 shares across ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF), marking the firm's third divestment this week.
Despite reducing its position, ARK remains Circle's eighth-largest shareholder with $750 million in holdings. CRCL now constitutes 7.8% of ARKW's portfolio, reflecting continued institutional confidence even as some investors take profits. The stock closed at $240.30 on Friday, a dramatic ascent from its $69 opening price earlier this month.
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