Reported 8 months ago
The Technology Select Sector SPDR Fund (XLK), the second-largest technology sector exchange-traded fund by assets under management, is set to significantly adjust the weighting for its two top holdings on Friday. XLK will increase its allocation in Nvidia from about 5% to over 20%, while reducing its allocation of Apple from approximately 21% to 5%, thereby reversing their positions in the ETF. The rebalancing is expected to impact the stock prices of Nvidia and Apple, potentially causing upward pressure on Nvidia's stock and downward pressure on Apple's price in the short term, depending on market reactions and other factors.
Source: YAHOO