Nasdaq Announces Annual Reconstitution of the Nasdaq-100 Index, Adding Palantir, MicroStrategy, and Axon

Nasdaq reconstitutes the Nasdaq-100 Index, adding Palantir, MicroStrategy, and Axon while removing Illumina, Super Micro, and Moderna.

Quiver AI Summary

Nasdaq has announced the results of the annual reconstitution of the Nasdaq-100 Index, effective December 23, 2024. Three companies will be added to the index: Palantir Technologies, MicroStrategy, and Axon Enterprise. In conjunction, Illumina, Super Micro Computer, and Moderna will be removed from the index. The Nasdaq-100 Index, which includes the 100 largest non-financial companies listed on Nasdaq, serves as a benchmark for various financial products. This reconstitution occurs annually in December, aligning with the quadruple witch expiration. The Nasdaq-100 Index underlies the Invesco QQQ Trust, aimed at mirroring its performance.

Potential Positives

• Nasdaq's addition of Palantir Technologies, MicroStrategy, and Axon Enterprise to the Nasdaq-100 Index enhances the index's representation of significant technology and innovation sectors.
• The reconstitution of the Nasdaq-100 Index supports Nasdaq's position as a leading global technology company, providing enhanced benchmark capabilities for various financial products.
• Companies included in the Nasdaq-100 Index generally gain increased visibility and investor interest, potentially boosting their market performance.

Potential Negatives

• The removal of Illumina, Super Micro Computer, and Moderna from the Nasdaq-100 Index® may signal declining market confidence or performance issues associated with these companies, which could affect investor perception of Nasdaq as a reliable index.
• The addition of companies like Palantir Technologies, MicroStrategy, and Axon Enterprise to the index may attract scrutiny regarding their recent financial performance or market volatility, which could reflect negatively on the index's overall stability.
• Investors might consider the annual reconstitution as a signal of shifting market dynamics and potential lack of growth from previously included companies, impacting overall trust in Nasdaq's ability to represent leading firms effectively.

FAQ

What companies are being added to the Nasdaq-100 Index in December 2024?

Palantir Technologies, MicroStrategy, and Axon Enterprise will be added to the Nasdaq-100 Index.

When will the changes to the Nasdaq-100 Index become effective?

The reconstitution of the Nasdaq-100 Index will be effective prior to market open on December 23, 2024.

Which companies are being removed from the Nasdaq-100 Index?

Illumina, Super Micro Computer, and Moderna will be removed from the Nasdaq-100 Index.

What is the significance of the Nasdaq-100 Index?

The Nasdaq-100 Index comprises 100 of the largest non-financial companies on Nasdaq and serves as a benchmark for financial products.

How often is the Nasdaq-100 Index reconstituted?

The Nasdaq-100 Index is reconstituted annually, typically coinciding with the quadruple witch expiration Friday in December.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.

$NDAQ Insider Trading Activity

$NDAQ insiders have traded $NDAQ stock on the open market 18 times in the past 6 months. Of those trades, 1 have been purchases and 17 have been sales.

Here’s a breakdown of recent trading of $NDAQ stock by insiders over the last 6 months:

• JEREMY SKULE (Executive Vice President) has traded it 4 times. They made 0 purchases and 4 sales, selling 36,149 shares.
• BRADLEY J PETERSON (Executive Vice President) has traded it 4 times. They made 0 purchases and 4 sales, selling 65,462 shares.
• ALFRED W ZOLLAR purchased 2,542 shares.
• PC NELSON GRIGGS (President, Capital Access Plat) has traded it 5 times. They made 0 purchases and 5 sales, selling 25,742 shares.
• COHEN TAL (President, Market Platforms) has traded it 2 times. They made 0 purchases and 2 sales, selling 10,884 shares.
• JOHN ZECCA (Executive Vice President) sold 11,000 shares.
• SELLER, LP ARGUS sold 42,804,207 shares.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

$NDAQ Hedge Fund Activity

We have seen 463 institutional investors add shares of $NDAQ stock to their portfolio, and 346 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

• THOMA BRAVO, L.P. removed 42,804,207 shares (-50.0%) from their portfolio in Q3 2024
• WELLINGTON MANAGEMENT GROUP LLP added 24,084,154 shares (+163.3%) to their portfolio in Q3 2024
• MIZUHO SECURITIES USA LLC added 3,970,658 shares (+13532.3%) to their portfolio in Q3 2024
• VANGUARD GROUP INC added 3,814,855 shares (+7.9%) to their portfolio in Q3 2024
• FARALLON CAPITAL MANAGEMENT LLC removed 3,744,448 shares (-49.9%) from their portfolio in Q3 2024
• TRUIST FINANCIAL CORP removed 1,992,539 shares (-67.0%) from their portfolio in Q3 2024
• STATE STREET CORP added 1,811,616 shares (+11.2%) to their portfolio in Q3 2024

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

Full Release

NEW YORK, Dec. 13, 2024 (GLOBE NEWSWIRE) -- Nasdaq (Nasdaq: NDAQ) today announced the results of the annual reconstitution of the Nasdaq-100 Index® (Nasdaq: NDX®), which will become effective prior to market open on Monday, December 23, 2024.

The following three companies will be added to the Index: Palantir Technologies Inc. (Nasdaq: PLTR), MicroStrategy Incorporated (Nasdaq: MSTR), and Axon Enterprise, Inc. (Nasdaq: AXON).

The Nasdaq-100 Index® is composed of 100 of the largest non-financial companies

¹

listed on The Nasdaq Stock Market® and dates to January 1985 – nearly 40 years ago –when it was launched along with the Nasdaq Financial-100™ Index, which is comprised of 100 of the largest financial stocks on Nasdaq® These indexes act as benchmarks for financial products such as options, futures, and funds. The Nasdaq-100® is reconstituted each year in December, timed to coincide with the quadruple witch expiration Friday of the quarter.

The Nasdaq-100 Index® is the basis of the Invesco QQQ Trust (Nasdaq: QQQ) which aims to provide investment results that, before expenses, correspond with the Nasdaq-100 Index® performance. In addition, options, futures and structured products based on the Nasdaq-100 Index® and the Invesco QQQ Trust trade on various exchanges.

As a result of the reconstitution, the following three companies will be removed from the Index: Illumina, Inc. (Nasdaq: ILMN), Super Micro Computer, Inc. (Nasdaq: SMCI), and Moderna, Inc. (Nasdaq: MRNA).

Information

For information about the three companies to be added to the Nasdaq-100 Index®, please visit the following respective company websites:

Palantir Technologies Inc. –

https://www.palantir.com/

MicroStrategy Incorporated –

https://www.microstrategy.com/

Axon Enterprise, Inc. –

https://www.axon.com/

About Nasdaq Global Indexes



Nasdaq Global Indexes has been creating innovative, market-leading, transparent indexes since 1971. Today, our index offering spans geographies and asset classes and includes diverse. We continuously offer new opportunities for financial product sponsors across a wide spectrum of investable products and for asset managers to measure risk and performance. Nasdaq also provides exchange listing, custom index, and design solutions to financial organizations worldwide.

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¹

As outlined in the Nasdaq-100 Index®

Methodology

About Nasdaq



Nasdaq (Nasdaq: NDAQ) is a leading global technology company serving corporate clients, investment managers, banks, brokers, and exchange operators as they navigate and interact with the global capital markets and the broader financial system. We aspire to deliver world-leading platforms that improve the liquidity, transparency, and integrity of the global economy. Our diverse offering of data, analytics, software, exchange capabilities, and client-centric services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions, and career opportunities, visit us on

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www.nasdaq.com

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The information contained above is provided for informational and educational purposes only, and nothing contained herein should be construed asinvestment advice either on behalf of a particular financial product or an overall investment strategy. Neither The Nasdaq OMX Group, Inc. nor any of its affiliates makes any recommendation to buy or sell any financial product or any representation about the financial condition of any company or fund. Statements regarding Nasdaq’s proprietary indexes are not guarantees of future performance. Actual results may differ materially from those expressed or implied. Past performance is not indicative of future results. Investors should undertake their own due diligence and carefully evaluate companies before investing. ADVICE FROM A SECURITIES PROFESSIONAL IS STRONGLY ADVISED.

- NDAQG -

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.