Amazon shares have been moved into the S&P 500 slot. Amazon shares have risen to US$45.18.


Amazon shares have been moved into the S&P 500 slot. Amazon shares have risen to US$45.18.

Amazon has been moved into the S&P 500 slot to replace AT&T which previously occupied the slot.

“The move is seen as a boost because managers of many mutual funds and other institution investment vehicles are required to hold a stake in all companies listed in the S&P, a broad basket of stocks representing numerous sectors.” [Source]

The move is said to increase credibility of the S&P index since it gives them a strong hold in the e-commerce area.

The S&P 500 index, which began in 1957, tries to give an overall picture of the U.S. economy. The index consists of 500 domestic stocks which have been chosen based on market size, liquidity and a representation of the industry group. Companies listed in the S&P 500 index have a market cap of $4 billion or more.

To visit the S&P website, click here.

Sharing is caring