The financial firm ARC Global Investments II and manager Patrick Orlando no longer own more than 5% of Trump Media stock, an SEC filing showed. ARC, which once held more than 11 million shares, and Orlando now hold just 0.

Trump Media & Technology Group's key shareholder, ARC Global Investments, has unloaded nearly all its stake in the media company, it said in a regulatory filing on Thursday. ARC and its manager Patrick Orlando now hold about 0.

ARC's current stake is just 30,147 shares of Trump Media after owning more than 11 million shares in September.

The financial firm reduced its stake in the Truth Social parent’s stock from more than 5% to just 0.01%, regulatory filings show.

Trump Media and Technology Group’s (TMTG) share price has fallen 48% since Oct. 29 when it sat at $51. The stock is now back down to $26. Over the past few weeks, the stock has moved up and down regularly on the back of the election furor that surrounded its largest shareholder,