Tesla to join S&P 500 in December, spark epic index fund trade

Topics Tesla | S&P 500

By Noel Randewich (Reuters) - Tesla Inc is set to join the S&P 500 in December, a major win for Chief Executive Elon Musk that boosted the electric car maker's shares 14% on Monday in anticipation of a $51 billion (£39 billion) trade by index funds adjusting their holdings. S&P Dow Jones Indices announced that the company would join the S&P 500 index <.

SPX> prior to the opening of trading on Dec. 21, potentially in two tranches making it easier for investment funds to digest. "(Tesla) will be one of the largest.....

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