Meet the Only Vanguard ETF That Has a Higher SpaceX Weighting Than the QQQ Nasdaq-100 ETF
By December, nearly 60% of the Vanguard Communication Services ETF could be invested in SpaceX, Alphabet, and Meta Platforms.
Overview
Space Exploration Technologies (NASDAQ: SPCX) officially joined the Nasdaq-100 on July 7. The megacap growth stock was fast-tracked into the index less than a month after its June 12 initial public offering.
However, the percentage of shares available for public trading -- known as the float -- is roughly 5% of SpaceX's market cap. That number will increase as shares are gradually unlocked beginning Aug. 6. Until then, SpaceX's Nasdaq-100 weighting is around four or five times its float rather than its market cap.
Details
So instead of being over 4% of the Nasdaq-100 and Nasdaq-100-based exchange-traded funds (ETFs) like the Invesco QQQ Trust (NASDAQ: QQQ), SpaceX is 1.1% for the time being -- making it the 22nd largest holding in the ETF.
Source
Originally published at www.fool.com.