1 ETF With a 31% Allocation to SpaceX
One actively managed ETF has taken a huge position in SpaceX. Unfortunately, that damages the fund's investment case.
1 ETF With a 31% Allocation to SpaceX
Overview
Space Exploration Technologies (NASDAQ: SPCX), better known as SpaceX, is one of the hottest initial public offerings (IPOs) ever. So it's not surprising that both investors and fund managers are scrambling to get their hands on shares.
Some of the professionals take that desire to extremes. Most index funds have rules that govern how quickly they can add IPO shares and how much they can buy. Actively managed funds don't have those constraints. That means managers can take big home run swings quickly if they choose.
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Originally published at www.fool.com.
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