Cathie Wood’s Ark Invest is still cashing in on its early bet on stablecoin issuer Circle, unloading another sizable chunk of its CRCL shares amid the stock’s post-IPO rally.
According to portfolio disclosures dated June 17, the investment management firm has sold an additional $44.8 million worth of CRCL stock. The dump comes just a day after its first-ever sale of the shares, when it offloaded approximately $51.7 million worth.
As with the previous sale, the latest round was spread across three of Ark’s ETFs, including ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF). The breakdown includes 208,654, 65,320, and 24,134 CRCL shares sold from each fund, respectively.
The back-to-back sales suggest Ark is locking in profits as the Circle stock continues its post-IPO surge. Since debuting at $31 on June 5, CRCL has skyrocketed nearly 400%, briefly touching $165 earlier this week.
At press time, the stock trades at $149.15, down roughly 1.26% in the past 24 hours, according to TradingView data. However, pre-market data shows a slight rebound to $154.23, up 3.41%.
When combined with the previous day’s sale of 342,658 shares, Ark has now trimmed a total of roughly 642,000 CRCL shares across its funds. Despite the profit-taking, the firm’s remaining position is still significant.
Ark Invest previously purchased 4.5 million of the CRCL shares and still holds around 3.9 million, worth approximately $575 million at current prices.
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