Billionaires Are Selling Nvidia Stock and Buying 1 Supercharged Index Fund for the Artificial Intelligence (AI) Boom
IVZInvesco(IVZ) The Motley Fool·2024-08-12 17:12

Several hedge fund managers have been buying shares of the Invesco QQQ Trust, an index fund with AI stocks like Apple, Microsoft, Alphabet, and Amazon.Nvidia has been a phenomenal long-term investment, with shares surging 2,630% during the last five years. Yet, several hedge fund managers (whose investing bona fides include billion-dollar net worths) trimmed their positions in Nvidia during the first quarter, while reallocating funds to the Invesco QQQ Trust (QQQ 0.52%), a supercharged index fund that track ...