Billionaires Are Buying a Supercharged Index Fund That Includes Nvidia, Tesla, and Other "Magnificent Seven" Stocks

The S&P 500 (SNPINDEX: ^GSPC) has advanced 27% year to date due to enthusiasm about artificial intelligence, and the "Magnificent Seven" stocks have contributed more than half of those gains. The hedge fund billionaires listed below bought shares of the Invesco QQQ Trust (NASDAQ: QQQ) during the third quarter, a supercharged index fund that offers heavy exposure to those seven stocks.Investors should never buy or sell a security simply because someone else did. Instead, they should always formulate an investment thesis before putting money into the market. Read on to learn more about the Invesco QQQ Trust.The Invesco QQQ Trust measures the performance of the Nasdaq-100, an index that tracks the 100 largest non-financial companies on the Nasdaq Stock Exchange. The index fund is heavily invested in the information technology sector, and the Magnificent Seven stocks account for 45% of its weighted exposure.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool