Key Takeaways:

• ARK Invest sold approximately $51.8 million in Circle shares during the stock’s growth.
• A total of 342,658 shares were sold across three ETFs, aligning with a 13% increase in Circle’s stock.
• Initially, the fund invested $373 million in Circle shares upon the company’s public offering on the NYSE earlier this month.

Cathie Wood’s ARK Invest reduced its holdings in Circle (CRCL) on Monday by divesting $51.8 million worth of shares, as the stock for the stablecoin issuer continued to gain momentum.

The investment firm sold 342,658 shares across several actively managed exchange-traded funds (ETFs), including:

• ARK Innovation ETF (ARKK): 196,367 shares
• ARK Next Generation Internet ETF (ARKW): 92,310 shares
• ARK Fintech Innovation ETF (ARKF): 53,981 shares

Circle, known for issuing the USDC stablecoin, saw a rise of 13% on Monday, ultimately closing at $151.06 in New York. The stock has been on an upward trend, having almost quintupled from its initial public offering (IPO) price of $31.

ARK purchased a total of $373 million in Circle’s stock on its trading debut. Additionally, Wood’s fund has also recently made adjustments to its positions in other crypto-related companies such as Coinbase (COIN) and Robinhood (HOOD).