Billionaires Are Selling Nvidia Stock and Buying 2 Magnificent Index Funds Instead

Several hedge fund billionaires trimmed their positions in Nvidia (NASDAQ: NVDA) during the first quarter, and patched the holes in their portfolios by purchasing the Invesco QQQ Trust (NASDAQ: QQQ) and/or the iShares Bitcoin Trust (NASDAQ: IBIT), two index funds with significant growth prospects.

Investors should not interpret those trades to mean Nvidia is a bad investment, but the index funds warrant further consideration because all four hedge fund managers have excellent track records. In fact, Citadel, D.E. Shaw, and Millennium Management are the three most profitable hedge funds in history, and Point72 ranks thirteenth on that list, according to LCH Investments.

Here's what investors should know about the Invesco QQQ Trust and the iShares Bitcoin Trust.

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Source Fool.com