Billionaires Are Buying a Supercharged Index Fund That Includes Nvidia, Tesla, and Other "Magnificent Seven" Stocks

The S&P 500 (SNPINDEX: ^GSPC) has advanced 27% year to date due to enthusiasm about artificial intelligence, and the "Magnificent Seven" stocks have contributed more than half of those gains. The hedge fund billionaires listed below bought shares of the Invesco QQQ Trust (QQQ -0.65%) during the third quarter, a supercharged index fund that offers heavy exposure to those seven stocks.Paul Tudor Jones of Tudor Investment purchased 98,531 shares of the Invesco QQQ Trust, opening a new position. The index fund ...