Ark Invest adds Block Inc. and Circle shares in latest buying spree

Cathie Wood’s Ark Invest has bought about $37.4 million worth of Block Inc. shares after the Jack Dorsey-led fintech company fell nearly 2% in Monday trading. Summary Ark Invest bought 456,059 Block shares worth roughly $37.4 million across three of its ETFs after the stock fell 1.85% on Monday. Block raised its 2026 gross profit forecast to $12.51 billion after second quarter gross profit increased 25% year over year. Ark purchased another 35,192 Circle shares worth about $3.36 million as CRCL jumped 9.65% on Monday. Bernstein maintained an Outperform rating on Circle with a $140 price target, citing stablecoin payments and blockchain capital markets. According to Ark Invest’s latest trading disclosure, the investment manager purchased 456,059 Block shares across three of its actively managed exchange-traded funds as it increased its exposure to the fintech company following another decline in its stock. The shares were distributed across the Ark Innovation ETF, Ark Next Generation Internet ETF and Ark Blockchain & Fintech Innovation ETF. Block closed Monday at $82.02, down 1.85% for the session. Ark’s latest purchase extends a series of investments in Block this year, includi...