You may now own a piece of Trump Media – and not even know it
CNN
You may now own a piece of Trump Media – and not even know it
If you’ve got money in the market, you might own a little piece of Trump Media — without even knowing it. Trump Media & Technology is now part of two broad indexes of US stocks: the Russell 1000 Index of large-cap stocks and the Russell 3000 Index. And several popular passive funds — namely index and exchange-traded funds (ETFs) — automatically buy whatever shares are part of those Russell indexes. Trump Media (DJT), the owner of conservative social media platform Truth Social, announced its addition to the Russell family on Monday. The company, majority-owned by former President Donald Trump, doesn’t make money and generates very little revenue. As a result, countless retail investors will now own a piece of Trump Media. Passive investing in ETFs and other funds has surged over the past 20 years as a way for investors to cheaply diversify their holdings and avoid the risk of focusing on single stocks. Some large funds track the investment results of the Russell 1000. These include ETFs like the iShares Russell 1000 ETF (IWB), with nearly $38 billion in assets, and the $5 billion Vanguard Russell 1000 ETF (VONE), as well as certain mutual funds that are in 401(k) plans and other retirement accounts. These include the $14 billion iShares Russell 3000 ETF (IWV) and the $2.5 billion Vanguard Russell 3000 ETF (VTHR).
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