Cathie Wood’s ARK Invest ETFs (exchange-traded funds) made new trades on Wednesday, November 12, according to the firm’s daily update. The standout move was a big buy in Circle Internet Group (CRCL), the largest USDC stablecoin issuer. Meanwhile, the ARK funds trimmed their stakes in Tesla (TSLA) and fintech firm SoFi Technologies (SOFI), extending a pattern seen in recent sessions.
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Wood Sells Tesla and SOFI Stakes
The biggest cut came from Tesla, where ARK sold 70,474 shares worth about $30.98 million. This follows ARK’s steady selling in recent days. On November 10, the fund also sold about 5,400 Tesla shares for roughly $2.4 million across its main ETFs.
ARK also reduced its stake in SoFi, selling 43,940 shares for about $1.36 million.
The move may be profit-taking, as the stock is up about 5% over the past five sessions and remains more than 100% higher for the year. The digital bank has been strong lately, with upbeat Q3 results and a higher full-year outlook as its member base keeps growing and more users adopt its products.
Wood Loads Up on CRCL Stock amid Strong Q3 Results
On the buy side, the standout move was a major purchase of 353,328 shares of Circle Internet worth $34.73 million. The buy was spread across ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF), showing broad support for the stock across ARK’s funds.
ARK’s move aligns with the company’s strong third-quarter results, which showed revenue of $740 million, up 66% year-over-year, and adjusted earnings of $0.64 per share, both above estimates.
Along with CRCL, ARK also added to its biotech and AI picks. The firm bought 57,879 shares of Twist Bioscience (TWST) for $1.81 million, 18,999 shares of Tempus AI (TEM) for $1.36 million, and 16,418 shares of CRISPR Therapeutics (CRSP) for $906,437, continuing its build-up in gene-editing and next-gen diagnostics.
Let’s see how these stocks perform using the TipRanks Stock Comparison Tool:
