Ark Invest Sells Off Circle Stock After Massive Post-IPO Rally
The post Ark Invest Sells Off Circle Stock After Massive Post-IPO Rally appeared on BitcoinEthereumNews.com. Key Notes ARK Invest has sold off $51.8 million worth of Circle shares across three of its ETFs. This comes after the firm purchased $373 million worth of Circle shares on its first day of trading on the NYSE. The Cathie Wood firm took its first profit since its exposure to the shares after a massive rally. Cathie Wood‘s ARK Invest has sold off a sizeable portion of its Circle (CRCL) share holdings. This asset management firm trimmed $51.8 million worth of these shares amidst an extension in the stock price rally following its successful Initial Public Offering (IPO) listing. ARK Invest First Divestment of CRCL Shares In May, Circle filed with the New York Stock Exchange (NYSE) to go public in the United States. It eventually bagged the approval on June 5, fueling optimism in the broader crypto industry. It is worth noting that ARK Invest purchased $373 million worth of Circle shares on its first day on the NYSE. This capital covered 4.49 million shares from the prominent stablecoin issuer. In fact, Circle ranked amongst the top ARK holdings across three funds, weighing up to 6.7%. As reported by Coindesk, only eleven days later, ARK Invest sold 196,367 shares from its ARK Innovation Exchange Traded Fund (ARKK) fund, another 92,310 from ARK Next Generation Internet ETF (ARKW), and 53,981 from ARK Fintech Innovation ETF (ARKF). This brought the total offload to 342,658 shares across three of its actively managed ETFs. Since Circle went live on the NYSE, this action is the first divestment of ARK’s CRCL shares. Judging by the current sentiment surrounding CRCL, it is obvious that ARK Invest is trying to profit first from its exposure to the shares. Interestingly, Circle still remains one of the ARK’s top holdings across ARKW, ARKF, and ARKK. ARKK holds…
The post Ark Invest Sells Off Circle Stock After Massive Post-IPO Rally appeared on BitcoinEthereumNews.com.
Key Notes ARK Invest has sold off $51.8 million worth of Circle shares across three of its ETFs. This comes after the firm purchased $373 million worth of Circle shares on its first day of trading on the NYSE. The Cathie Wood firm took its first profit since its exposure to the shares after a massive rally. Cathie Wood‘s ARK Invest has sold off a sizeable portion of its Circle (CRCL) share holdings. This asset management firm trimmed $51.8 million worth of these shares amidst an extension in the stock price rally following its successful Initial Public Offering (IPO) listing. ARK Invest First Divestment of CRCL Shares In May, Circle filed with the New York Stock Exchange (NYSE) to go public in the United States. It eventually bagged the approval on June 5, fueling optimism in the broader crypto industry. It is worth noting that ARK Invest purchased $373 million worth of Circle shares on its first day on the NYSE. This capital covered 4.49 million shares from the prominent stablecoin issuer. In fact, Circle ranked amongst the top ARK holdings across three funds, weighing up to 6.7%. As reported by Coindesk, only eleven days later, ARK Invest sold 196,367 shares from its ARK Innovation Exchange Traded Fund (ARKK) fund, another 92,310 from ARK Next Generation Internet ETF (ARKW), and 53,981 from ARK Fintech Innovation ETF (ARKF). This brought the total offload to 342,658 shares across three of its actively managed ETFs. Since Circle went live on the NYSE, this action is the first divestment of ARK’s CRCL shares. Judging by the current sentiment surrounding CRCL, it is obvious that ARK Invest is trying to profit first from its exposure to the shares. Interestingly, Circle still remains one of the ARK’s top holdings across ARKW, ARKF, and ARKK. ARKK holds…
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