Cathie Wood's ARK Invest has made a significant move in the market by selling a substantial number of Circle shares. According to the latest data from Ark Invest Daily, on June 23, the firm sold a total of 415,844 shares of Circle, with an estimated total value of approximately $110 million. This calculation is based on the day's closing price of $263.45 per share. The sale was distributed across three of ARK Invest's funds: ARKK, ARKW, and ARKF. The ARKK fund, which is the firm's flagship fund, sold the largest number of shares at 306,921. The ARKW fund sold 72,302 shares, while the ARKF fund sold 36,621 shares. This significant sale of Circle shares by ARK Invest has sparked interest and speculation among market observers. Circle is a financial technology company that provides payment solutions and is known for its USDC stablecoin. The company has been gaining traction in recent times, and its shares have been performing well. The reasons behind ARK Invest's decision to sell such a large number of shares are not immediately clear, but it could be a strategic move to rebalance the firm's portfolio or to take profits. The sale of Circle shares by ARK Invest is a notable development in the financial technology sector. As a prominent investor in innovative and disruptive technologies, Cathie Wood's moves are closely watched by the market. The impact of this sale on Circle's share price and the broader market will be interesting to observe in the coming days. Furthermore, it will be important to monitor ARK Invest's future moves and how they align with the firm's overall investment strategy. With the financial technology sector continuing to evolve, ARK Invest's decisions will likely remain a key area of focus for investors and market analysts.
