Ark Funds On Nasdaq Rebalancing, Can Smaller Tech Stocks Have Their Spotlight? Plus: A Look At Top 10 Holdings And Weightings
Portfolio Pulse from Chris Katje
The Nasdaq 100 Index, tracked by the Invesco QQQ Trust Series 1, recently underwent a special rebalancing due to several holdings seeing their weightings soar in 2023. Ark Funds portfolio manager Dan White discussed the impact of the rebalancing on smaller technology companies, stating that it could make some smaller cap stocks stand out. He also mentioned that Nvidia and Microsoft are being trimmed in the Nasdaq. The Ark Innovation ETF is up 56.4% year-to-date, outpacing the Nasdaq 100 ETF, which is up 42.9% over the same time period.
July 25, 2023 | 4:44 pm
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NEGATIVE IMPACT
Microsoft is being trimmed in the Nasdaq rebalancing, which could impact its stock performance.
The trimming of Microsoft in the Nasdaq rebalancing could lead to a decrease in its stock performance in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Nvidia is being trimmed in the Nasdaq rebalancing, which could impact its stock performance.
The trimming of Nvidia in the Nasdaq rebalancing could lead to a decrease in its stock performance in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEUTRAL IMPACT
The Invesco QQQ Trust Series 1, which tracks the Nasdaq 100 Index, could see changes in its performance due to the recent rebalancing.
The rebalancing of the Nasdaq 100 Index could lead to changes in the performance of the Invesco QQQ Trust Series 1, which tracks the index. However, the exact impact is uncertain.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
The Ark Innovation ETF is up 56.4% year-to-date, outpacing the Nasdaq 100 ETF.
The Ark Innovation ETF has been performing well, outpacing the Nasdaq 100 ETF. This could attract more investors to the ETF, potentially driving its price up.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100