Amova Asset Management Americas Inc. increased its position in Circle Internet Group, Inc. by 222.1% during the third quarter. The firm disclosed the transaction in an SEC filing dated March 5th. Amova acquired an additional 892,359 shares during the period. The firm now holds a total of 1,294,079 shares. This position is valued at approximately $171.45 million.
The investment now represents 1.7% of Amova’s total portfolio. Circle currently ranks as the firm’s 17th largest holding.
The increased stake coincides with broad positive sentiment across cryptocurrency-related stocks. Recent strength in the crypto markets has supported sector valuations. Circle reported fourth-quarter earnings on February 25th. The company exceeded analyst estimates with a 76.9% year-over-year revenue increase.