ARK Invest Buys 220K Circle Shares on Tuesday, Stock Down 22% YTD

According to Cointelegraph, ARK Invest purchased 220,000 shares of Circle Internet Group (CRCL) across three of its actively managed exchange-traded funds on Tuesday, worth approximately $13.9 million based on Circle's closing price of $63.22. The purchase underscores the investment manager's conviction despite Circle shares declining 22% year-to-date and trading roughly 76% below their post-IPO peak.

ARK's latest buy brought its disclosed July acquisitions of Circle shares to 725,517 following previous purchases on July 1 and July 9. As of Wednesday, Circle accounted for 4.37% of the ARK Fintech Innovation ETF (ARKF), making it the fund's seventh-largest holding valued at approximately $33 million.