Cathie Wood’s flagship fund on Monday sold Roku Inc., which recently became its biggest holding, for the first time since August.
Wood’s Ark Innovation ETF sold 171,268 shares of the streaming-video platform company on Monday, marking its first sale of the stock since Aug. 10, Ark Investment Management data compiled by Bloomberg show. Ark funds bought Roku shares several times in October.
The sales came after the stock jumped 42% over two sessions at the end of last week, as the company reported better-than-expected third-quarter results and gave an upbeat outlook. That bounce catapulted Roku past cryptocurrency exchange operator Coinbase Global Inc. and electric vehicle bellwether Tesla Inc. to become Ark Innovation ETF’s top holding on Thursday. Shares fell 1.7% on Monday.
Ark is the second largest shareholder in Roku, holding 8.35% of its outstanding shares as of September, according to data compiled by Bloomberg.
Wood’s flagship fund has risen 27% this year, compared with a gain of 39% for the Nasdaq 100 Index and a 14% advance for the S&P 500 Index. The Ark Innovation ETF slumped 67% last year.
From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.
Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.
“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.
Sellers shift focus: It's not about succession anymore.
Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.
RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.
As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.
