Cathie Wood's investment firm Ark Invest scooped up more shares of Circle Internet Group on Thursday, while selling a portion of its Robinhood holdings.
The firm's latest trading disclosure shows that Ark bought a total of 217,896 shares of Circle (CRCL) across three of its exchange-traded funds — ARKK, ARKW, and ARKF. At Thursday's closing price of $63.01, Ark Invest added roughly $13.7 million worth of the stock.
Circle fell 1.65% on Thursday, extending its one-month decline to 20.2%. The stock fell sharply at the beginning of the month following the launch of Open USD (OUSD), a new stablecoin project backed by more than 140 companies including Visa, Stripe, Mastercard, BlackRock, and Coinbase.
Still, Bernstein analsyts reiterated their Outperform rating on Circle and maintained a $190 price target for the USDC issuer earlier this month.
Meanwhile, Ark sold 85,319 shares of Robinhood (HOOD), worth $9.8 million. HOOD closed up 1.39% at $115.11 on Thursday.
