IYW - Billionaires Are Selling Nvidia Stock and Buying 2 Top Index Funds That Beat the S&P 500 Over the Past Decade
2024-05-06 04:55:00 ET
Chipmaker Nvidia (NASDAQ: NVDA) has been one of the hottest growth stocks on the market, with shares more than tripling in the past year alone. But the hedge fund billionaires listed below sold down their positions in Nvidia during the fourth-quarter and reallocated some capital to two high-growth index funds, the Invesco QQQ Trust (NASDAQ: QQQ) and the iShares U.S. Technology ETF (NYSEMKT: IYW) .
Those index funds are particularly attractive because they outperformed the S&P 500 over the last 10 years. Specifically, while the S&P 500 advanced 228% during that period, the Invesco QQQ Trust returned 440% and the iShares U.S. Technology ETF soared 528%.
Here's what investors should know about those index funds.
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Billionaires Are Selling Nvidia Stock and Buying 2 Top Index Funds That Beat the S&P 500 Over the Past Decade