S&P 500 Index Readjustment
I paraphrased this information from Barron's, and inserted my own take as well....
On June 24, S&P Dow Jones Indices will readjust the representation of the 500 companies that constitute the market benchmark, a quarterly process known as rebalancing. Exchange-traded funds and mutual funds that track the S&P 500 will have to readjust their holdings as a result - a process that results in billions of dollars of buying and selling. This process will affect Apple (AAPL) and Tech stocks in general.
As of June 14, the aggregate value of the