Reported 8 months ago
The Technology Select Sector SPDR Fund (XLK) is anticipated to significantly increase its investment in Nvidia stock by billions of dollars and reduce its holdings in Apple as it undergoes quarterly rebalancing. Nvidia's surge in market cap exceeding Apple's has led to the need for this restructuring. This move is necessitated by the rules governing fund diversification that limit the exposure of any single stock in the fund, ultimately impacting the market dynamics and prices of these tech giants.
Source: YAHOO