SpaceX Is Joining the Nasdaq-100 This Week. What This Means for Invesco QQQ Investors.
Space Exploration Technologies (NASDAQ: SPCX), otherwise known as SpaceX, is joining the Nasdaq-100 index today. This means that exchange-traded funds (ETFs) tracking the index, including the Invesco QQQ Trust (NASDAQ: QQQ), will soon own the stock indirectly. J.P. Morgan, part of JPMorgan Chase, expects this index inclusion to trigger about $4.3 billion in passive buying from index-tracking funds. Although this will serve as a clear near-term demand catalyst for SpaceX, Invesco QQQ Trust investors are al ...