Ark Invest sells $51.7 million worth of Circle shares, with stock prices hitting a new high.

Gate News bot message, as Circle’s stock price hits a new high, Cathie Wood’s Ark Invest sold 342,658 shares of Circle Internet Group Inc. through its three exchange-traded funds on Monday, worth approximately $51.7 million.

The company’s latest trading documents show that the ARK Innovation ETF (ARKK) has reduced its holdings of Circle shares by 196,367 shares today, while its ARK Next Generation Internet ETF (ARKW) has reduced its holdings by 92,310 Circle shares. The ARK Fintech Innovation ETF (ARKF) has also reduced its holdings by 53,981 Circle shares.

The stock code for Circle is CRCL, which once soared to a high of $165.6 during the trading day, then retreated, ultimately closing on Monday up 13.1% at a record $151.06, according to Yahoo Finance data, nearly five times its IPO price of $31.

At the beginning of this month, Ark spent $373.4 million to purchase Circle shares when CRCL was listed on the New York Stock Exchange. Previously, Ark had reduced its holdings in CRCL. This stablecoin issuing company has just completed an unprecedented $1.1 billion IPO.

Source: The Block