ARK buys another 220k shares of Circle stock; in July alone, it has increased its holdings by more than 720k shares in total

Deep Tide TechFlow news: On July 16, according to Cointelegraph, Cathie Wood’s ARK Invest increased its stake in Circle stock by buying an additional 220k shares at a price of about $63.22 per share on Tuesday, with a transaction value of approximately $13.9 million. By then, ARK had purchased 725,517 shares of Circle stock in July to date, despite the stock being down about 22% year-to-date and about 76% below its IPO peak.

Holdings data shows that Circle currently makes up 4.37% of the ARK Fintech Innovation ETF, its seventh-largest holding, worth about $33 million; in its flagship fund ARKK, it represents 3.35%, worth about $218 million. Meanwhile, institutions such as 10x Research said USDC activity has declined, calling Circle’s fundamentals “significantly deteriorating,” and taking a cautious stance on its investment prospects.