{"id":39862,"date":"2023-07-24T13:53:26","date_gmt":"2023-07-24T17:53:26","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/here-are-4-of-the-biggest-changes-to-the-nasdaq-100-from-mondays-special-rebalancing\/"},"modified":"2023-07-24T13:53:28","modified_gmt":"2023-07-24T17:53:28","slug":"here-are-4-of-the-biggest-changes-to-the-nasdaq-100-from-mondays-special-rebalancing","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=39862","title":{"rendered":"Here are 4 of the biggest changes to the Nasdaq 100 from Monday\u2019s special rebalancing"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002312337\" role=\"document\">\n<p>New weightings for the largest stocks in the Nasdaq 100 are taking effect on Monday following the index\u2019s second \u201cspecial rebalancing\u201d in 25 years. <\/p>\n<p><strong>See:<\/strong> Nasdaq rebalancing is coming, and it\u2019s boosting interest in Friday\u2019s $2.3 trillion option expiration<\/p>\n<div class=\"paywall\">\n<p>These new levels were shared ahead of time with Goldman Sachs Group Chief U.S. Equity Analyst David Kostin. Kostin and his team have published a report on the changes that was shared with Goldman clients and the press last week. <\/p>\n<p>Here are four of the most important shifts highlighted in Kostin\u2019s note: <\/p>\n<ul class=\"articleList\">\n<li>\n      The seven stocks with the heaviest weightings in the Nasdaq 100 are seeing their collective weight reduced to 44% from 56%. <\/p>\n<\/li>\n<li>\n      At the sector level, information technology will continue to account for roughly half of the index, but the sector\u2019s weight will decline to 49% from 51%.<\/p>\n<\/li>\n<li>\n      Apple Inc.<br \/>\n        AAPL,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/202934861\/composite\" class=\"positive\">+0.59%<\/bg-quote><br \/>\n       and Microsoft Corp.<br \/>\n        MSFT,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/207732364\/composite\" class=\"positive\">+0.56%<\/bg-quote><br \/>\n       will remain the index\u2019s largest constituents, but their index weights will be reduced by roughly four percentage points \u2014 to 12% and 10%, respectively.<\/p>\n<\/li>\n<li>\n      Broadcom\u2019s index weight is seeing the biggest increase, and will see its weighting increase by 64 basis points to 3%. <\/p>\n<\/li>\n<\/ul>\n<p>The Goldman analyst summarized how the new weightings would impact the index\u2019s 25 largest constituents in the chart below. <\/p>\n<div data-layout=\"inline\n                \" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetMediaIllustration\n            inline\n  article__inset\n          article__inset--type-InsetMediaIllustration\n            article__inset--inline\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-inline\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>According to Nasdaq representatives, the Nasdaq 100 is the most popular of the exchange\u2019s indexes. So far this year, it has outperformed the Nasdaq Composite, a broader index including every company traded on the exchange. The Nasdaq 100 is up 41.2%, to the Composite\u2019s 34.4%, according to FactSet data.<\/p>\n<p>EPFR data show $261 billion in mutual fund and exchange-traded fund assets are benchmarked to the Nasdaq 100, including the Invesco QQQ Trust Series<br \/>\n        QQQ,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/208575548\/composite\" class=\"positive\">+0.30%<\/bg-quote><span>,<\/span><br \/>\n       better known by its ticker QQQ.  More than $250 billion of this money is invested in passive benchmark-tracking strategies. <\/p>\n<p>Nasdaq decided to implement the special rebalancing earlier this month to try and ward off concentration risk after its seven largest components surged earlier this year. According to its official index-management methodology, Nasdaq aims to keep the combined weighting of its largest constituents to 40%. <\/p>\n<p>Kostin said he doesn\u2019t expect these changes to have much of an impact on markets, arguing that the previous special rebalancing didn\u2019t move the index much, either. <\/p>\n<p>Both the Nasdaq 100 and Nasdaq Composite were slightly lower on Monday as big-tech names continued to lag the S&amp;P 500 and suddenly high-flying Dow Jones Industrial Average<br \/>\n        DJIA,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210598065\/realtime\" class=\"positive\">+0.60%<\/bg-quote><span>,<\/span><br \/>\n       just like they did last week. <\/p>\n<p>Nasdaq 100-tracking QQQ<br \/>\n        QQQ,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/208575548\/composite\" class=\"positive\">+0.30%<\/bg-quote><br \/>\n       was off by 0.2% at $374 per share Monday morning, while the Nasdaq Composite<br \/>\n        COMP,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210598365\/realtime\" class=\"positive\">+0.34%<\/bg-quote><br \/>\n       was down 0.2% at 14, 013. <\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/here-are-4-of-the-biggest-changes-to-the-nasdaq-100-from-mondays-special-rebalancing-c6af8654?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New weightings for the largest stocks in the Nasdaq 100 are taking effect on Monday following the index\u2019s second \u201cspecial rebalancing\u201d in 25 years. See: Nasdaq rebalancing is coming, and it\u2019s boosting interest in Friday\u2019s $2.3 trillion option expiration These new levels were shared ahead of time with Goldman Sachs Group Chief U.S. Equity Analyst [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":39863,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-39862","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Here are 4 of the biggest changes to the Nasdaq 100 from Monday\u2019s special rebalancing | iFintechWorld<\/title>\n<meta name=\"description\" content=\"New weightings for the largest stocks in the Nasdaq 100 are taking effect on Monday following the index\u2019s second \u201cspecial rebalancing\u201d in 25 years. 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