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MicroStrategy's Imminent Inclusion In Nasdaq 100 Could Reportedly Spark Up To $2B In Fund Inflows

In a significant move, MicroStrategy Inc. (NASDAQ:MSTR) looks set to join the Nasdaq 100 index, prompting a major reconstitution of the index. This change, based on market cap rankings as of Nov. 29, will take effect after Dec. 20.What Happened: According to a report by Seeking Alpha, the inclusion of MicroStrategy, with its $94 billion market cap, will impact passive funds tracking the index, such as the Invesco QQQ Trust (NYSE:QQQ) and the Invesco Nasdaq 100 (NYSE:QQQM).These funds, along with the Global X Nasdaq 100 Covered Call (NYSE:QYLD), will need to adjust their holdings to include MicroStrategy by Dec. 20.MicroStrategy’s entry into the NASDAQ 100 introduces Bitcoin exposure to passive investors, as the company holds nearly 2% of the Bitcoin supply. Known for issuing stock to purchase Bitcoin, MicroStrategy’s strategy could affect the index’s dynamics.See Also: MicroStrategy's Michael Saylor Calls Bitcoin The ‘Manhattan In ...Full story available on Benzinga.com

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Published by: benzinga

Read full article here: https://www.benzinga.com/markets/cryptocurrency/24/11/42253555/microstrategys-imminent-inclusion-in-nasdaq-100-could-reportedly-spark-up-to-2b-in-fund-in