SpaceX Added to Russell Indexes, Triggering $3 Billion in Passive Fund Buys
SpaceX shares will be added to FTSE Russell's Russell U.S. indexes after the close of trading on June 26, forcing passively managed funds to purchase approximately $3 billion worth of the company's stock to align with the benchmarks.
The listing follows the initial inclusion in the U.S. indexes, with the spaceflight company slated for addition to the Nasdaq 100 benchmark after July 6. The Russell U.S. inclusion creates a concentrated demand catalyst for the company's shares ahead of the broader index adjustment.
From the sources (1 posts)
@sawyermerrittFTSE Russell will be adding @SpaceX stock to its Russell U.S. indexes after today's close of trading. Passively managed funds will need to buy an estimated $3 billion worth of SpaceX shares to match the Russell indexes they track. SpaceX