On September 21, Invesco QQQ rose 3.02% in regular trading, trading at $742.58/share, with turnover of $25.652 billion. The rally was driven by the Nasdaq 100 Index quarterly rebalance officially taking effect before the U.S. market open, combined with broad-based strength across technology stocks.

Specifically, SpaceX's index weight surged from approximately 1.28% to 2.82% — more than doubling — as part of the rebalance. This forced over $800 billion in passive funds tracking the Nasdaq 100 Index to concentrate buying activity to realign portfolios. As of the end of Q2, total assets tracking the Nasdaq 100 stood at approximately $1.7 trillion, amplifying the rebalancing flow impact. SpaceX's relatively low initial weight traced back to its July inclusion in the index, and further share lockup expirations could push its weight even higher going forward.

The macro backdrop remained supportive, with August CPI printing at 3.4% year-over-year — in line with consensus — leaving bond yields largely unchanged and allowing risk appetite to persist in equities.

Invesco QQQ seeks to maintain correspondence between its portfolio composition and the stocks in the NASDAQ-100 Index by adjusting securities to conform to periodic changes in the identity and relative weights of index components.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)