Reported about 1 year ago
State Street Global Advisors is planning a significant rebalance of its $71 billion Technology Select Sector SPDR Fund as Nvidia's market value surpasses Apple. The ETF, which currently holds fewer Nvidia shares compared to the S&P 500 Information Technology Index, is set to revamp its composition with Nvidia's weight potentially increasing to above 20% and Apple's decreasing to 4.5%. This move would involve State Street buying $11 billion of Nvidia shares and selling $12 billion of Apple shares, driving significant trading volume.
Source: YAHOO