Ark Invest Adds Circle Shares While Trimming Robinhood Stake

Cathie Wood’s Ark Invest purchased 217,896 shares of Circle Internet Group on Thursday across three of its exchange traded funds, ARKK, ARKW and ARKF. Based on Thursday’s closing price of $63.01, the purchase amounted to roughly $13.7 million.

Circle Shares Under Pressure

Circle stock fell 1.65% on Thursday, extending its decline over the past month to more than 20%. The drop follows the early-month launch of Open USD, a competing stablecoin initiative backed by more than 140 companies, including Visa, Stripe, Mastercard, BlackRock and Coinbase. Despite the pullback, analysts at Bernstein have maintained an Outperform rating on Circle along with a $190 price target.

Robinhood Position Reduced

At the same time, Ark sold 85,319 shares of Robinhood, worth about $9.8 million. Robinhood stock closed up 1.39% at $115.11 on Thursday, holding steady despite the trimmed position.

Ark Invest regularly adjusts its fund holdings to ensure no single stock makes up more than 10% of a portfolio’s total value. As a result, the firm frequently rebalances positions when the value of individual holdings shifts significantly.