Cathie Wood’s ARK Invest has increased its Circle selling spree as CRCL stock surged nearly 250% since its public debut.
ARK dumped another 609,175 Circle shares from its three funds for $146.2 million on Friday, according to a trade notification seen by Cointelegraph.
The sale came amid a 20.4% jump in the company’s shares on Friday, closing at $240.3, or 248% above the opening price of $69 on the New York Stock Exchange on June 5.
The most recent dump marked the third sale by ARK in the past trading week, with all three sales totaling 1.25 million CRCL shares, netting roughly $243 million based on the daily closing prices.
ARK sells about 300,000 CRCL shares daily
ARK’s latest Circle stock sale involved transactions from the three ARK funds, including the 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 offloaded 75,018 shares and 43,608 shares, respectively.
The company sold $45 million on Tuesday, after making another $52 million sale on Monday.
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ARK is the 8th largest holder of Circle
ARK’s total sale of Circle shares over the past week represents nearly 29% of the company’s 4.49 million CRCL shares it purchased at Circle’s public launch on June 5.
Despite the massive sale, ARK remains one of the largest CRCL holders, ranking the eighth largest investor as of June 20, 3:00 pm UTC, according to Bloomberg Terminal data.
According to the data, Beijing-based IDG-Accel China Capital Fund II is the largest Circle holder with 23.3 million shares, followed by General Catalyst Group Management and James Breyer, holding 20.1 million shares and 16.7 million shares, respectively.
ARK continues to hold $750.4 million worth of Circle shares as of June 20, with CRCL becoming the top holding in the ARKW fund with a weight of 7.8%.
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