Cathie Wood picked up shares of the rising ROKU
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Cathie Wood scooped up more than 50K additional shares of Roku (NASDAQ:ROKU) for her flagship fund ARK Innovation ETF (NYSEARCA:ARKK), just as the stock moved up in early trading Wednesday amid merger speculation. The added shares further solidified ARKK as the largest holder of ROKU compared to any other fund on the market.
Wood and her team picked up 58,844 shares of the streaming firm on Tuesday which now gives ROKU an 8.25% weighting inside of ARKK. ROKU represents ARKKâs third largest weighting with a market value of $725.39M, per ARK Invest data.
ARKK is not Woodâs only fund with a heavy portfolio position towards ROKU. ARK Next Generation Internet ETF (NYSEARCA:ARKW) has accumulated an 8.12% position in ROKU, notching the stock as its second largest holding.
After ARKK and ARKW, the third ETF with the highest weighting towards ROKU is Roundhill Meme ETF (NYSEARCA:MEME) at 4.5%.
ROKU saw an early pop Wednesday, gaining 5% after Insider reported that the firm has "abruptly" closed the trading window for employees even as talk of acquisition by Netflix (NFLX) swirls inside the streaming company.
While ROKU is up it has provided no relief for ARKK or ARKW as both exchange-traded funds hover near unchanged territory. MEME on the other hand has gained 2% in premarket trading.
Moreover, Wood and her funds have now seen nearly 50% of their assets disappear in 2022 across all nine of the companyâs ETFs.