ARK Sells More Circle Stock
ARK Invest Reduces Circle (CRCL) Stake
Cathie Wood's ARK Invest has further reduced its holdings of Circle (CRCL) stock, selling another 609,175 shares for approximately $146.2 million on Friday. This follows a series of sales this week, totaling 1.25 million shares and roughly $243 million in value.
This latest transaction occurred amidst a significant 20.4% surge in CRCL share price on Friday, closing at $240.3—a remarkable 248% increase from its $69 IPO price on June 5th.
Details of the Sale
The sales involved ARK's three funds: ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF). The breakdown is as follows:
- ARKK: 490,549 shares
- ARKW: 75,018 shares
- ARKF: 43,608 shares
This represents approximately 300,000 CRCL shares sold daily over the past three trading days.
Despite the substantial sales, representing nearly 29% of ARK's initial 4.49 million CRCL shares purchased at the IPO, ARK remains one of the largest CRCL holders, ranking eighth as of June 20th, according to Bloomberg Terminal data. They still hold approximately $750.4 million worth of Circle shares.
Top CRCL Holders
While ARK remains a significant investor, other holders have significantly larger positions, including:
- IDG-Accel China Capital Fund II (23.3 million shares)
- General Catalyst Group Management (20.1 million shares)
- James Breyer (16.7 million shares)
Within ARK's funds, CRCL has become a top holding, notably accounting for 7.8% of the ARKW fund.
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