State Street Technology ETF To Put Nvidia Before Apple In Revamp

Quick Summary:

A major technology exchange-traded fund is set for a major overhaul later this month that would boost exposure to NVIDIA Corp (NASDAQ:NVDA) at the expense of Apple Inc.(NASDAQ:APPL) and suddenly lead to billions of dollars in trading volume.

State Street Capital Advisors plans to shuffle the makeup of its $71 billion Technology Select Sector SPDR Fund (NYSE:XLK) after Nvidia’s market value closed above Apple on Friday.

The ETF must track the S&P benchmark to stay in compliance with the diversification regulations, according to Bloomberg.

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Article Details

Author / Journalist: Michael Juliano

Category: Technology

Markets: United States

Topics: US0378071049 Benzinga Tech APPL XLK US81369Y8030 State Street Capital Advisors News Sector ETFs US67066G1040 ETFs NVDA Top Stories Stories That Matter

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-06-17 @ 21:50:13 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 385 words

Reading Time: 3 minutes read

Sentences: 14 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 21290975

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Official Website: benzinga.com

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