PANews reported on June 22 that according to Cointelegraph, due to the surge of CRCL stock by nearly 250% since its public listing, Cathie Wood's ARK Invest has intensified its selling of Circle shares. On Friday (June 20), ARK sold 609,175 shares of Circle stock from its three funds, valued at $146.2 million. This sale occurred when the company's stock rose 20.4% on June 20, closing at $240.3, an increase of 248% from the New York Stock Exchange opening price of $69 on June 5. The latest sale is the third sale by ARK in the past week, with a total of 1.25 million CRCL shares sold, earning approximately $243 million based on daily closing prices.
ARK's latest Circle stock sale involved trades from three ARK funds, including ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF). The largest fund, ARKK, sold 490,549 CRCL shares, while ARKW and ARKF sold 75,018 and 43,608 shares respectively.
Previous report, Ark again sold Circle stocks worth $44.76 million, cashing out nearly $100 million for two consecutive days.
