Cathie Wood’s investment company ARK Invest has continued dumping Circle shares after selling 1.25 million CRCL shares last week for around $243 million.
ARK sold another 415,844 Circle shares from its funds for $109.6 million on Monday, according to a trade notification seen by Cointelegraph.
The transactions marked the fourth Circle dump by ARK since the asset manager started offloading CRCL shares last Monday, just 11 days after Circle’s public launch on the New York Stock Exchange (NYSE).
With the new sale, ARK has now sold about 1.7 million Circle shares, which accounts for 37% of its 4.5 million CRCL purchase made on June 5.
ARK funds still hold 2.6 million Circle shares
ARK’s latest sale involved transactions from the three holding funds, including the ARK Innovation ETF (ARKK), ARK Next Generation internet ETF (ARKW) and ARK Fintech Innovation ETF (ARKF).
ARKK, the largest ARK fund with assets under management (AuM) of $5.6 billion, sold 306,921 Circle shares on June 23, still holding about 1.7 million shares, accounting for roughly 6.8% of the fund’s total assets.
The two other funds, ARKW and ARKF, offloaded 72,302 shares and 36,621 shares, respectively, resulting in holdings of 625,645 shares and 369,128 shares, or 994,773 CRCL shares combined.
All three funds together held 2.6 million Circle shares after the new sale, valued at around $69.9 million based on the CRCL closing price of $263.4 on Monday.
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