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Shares of Roku (NASDAQ:ROKU) popped more than 15% on Thursday morning but it hasn’t lent much support to a series of ETFs managed by Cathie Wood that boast significant holdings in the streaming TV company. Several ARK Invest ETFs that are heavily weighted in ROKU have seen sluggish action during the day.
ROKU is currently owned by 101 different exchange traded funds, with several of Wood’s ARK Invest funds having the largest weightings toward the stock. Of the 101 ETFs, the top three largest holders of ROKU all belong to Wood.
Wood’s ARK Next Generation Internet ETF (NYSEARCA:ARKW) has a 7.03% weighting in ROKU, listing the stock as its third largest position. Next in line is the popular ARK Innovation ETF (NYSEARCA:ARKK) which claims a 7.07% weighting, leaving ROKU as the funds second most significant position. Meanwhile, ARK Fintech Innovation ETF (NYSEARCA:ARKF) has made the stock its 13 highest concentration with a 3.16% weighting.
Early in Thursday’s intraday action, ROKU jumped 16.3% after the company’s fourth-quarter revenues topped expectations and the company gave an upbeat forecast for the current quarter.
At the same time ARKW, ARKK, and ARKF have not felt much of the love as they traded +0.6%, +0.6%, and –1.1% respectively.
Shares of ROKU now trade near $74 a share. Seven months ago, Wood called for ROKU to reach $605 per share by 2026. However, since her call ROKU tumbled 16.5% despite its jump on Thursday.
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