Today NASDAQ announced the details of its ‘special rebalance’ of the NASDAQ-100 Index. The move is taking place because stock weightings have become too far disconnected from their market capitalizations.
One big downward mover is Apple, which will see its weight cut by around 8 percent when the rebalancing takes place on May 2, reports the FT’s Alphaville, citing data from Bloomberg. In total, 82 securities will see their weight cut by an average of 0.376 percent, says the blog.
Click here to read the official news release from NASDAQ.