The NASDAQ 100 rebalance took effect before the opening of US stocks on Monday SpaceX (SPCX.US) weight rose sharply to 2.82%

The Zhitong Finance App learned that the quarterly rebalance of the Nasdaq 100 Index will take effect before the US stock market opens on September 21 (Monday). The core change is that the index weight of SpaceX (SPCX.US) has increased sharply from about 1.28% before to 2.82%.

Elon Musk's rocket, satellite, and AI company is worth more than $2 trillion. The company was underweighted when it was included in the NASDAQ 100 index in July because most of its shares were locked down, limiting the number of shares available for public trading.

As the ban ends, the company's free-flowing shares and its weight in the Nasdaq 100 are expected to increase, prompting index funds and exchange-traded funds (ETFs) tracking this benchmark to buy more of the company's shares. According to reports, there are currently more than 200 investment products tracking the Nasdaq 100 Index around the world, with total assets under management exceeding 800 billion US dollars.

On the same day, the S&P Dow Jones Index quarterly rebalance will also take effect. The S&P 100 Index includes Palo Alto Networks, Arista Networks, SanDisk, and Dell, and the S&P 500 Index includes Everpure, Bloom Energy, and Illumina. This adjustment is a routine exchange of positions. On the effective date, passive capital adjustments may drive volume and price fluctuations in related technology stocks. Arista, Palo Alto, etc. are expected to receive passive increases in allocations.