C and the Indexers
Note to self: Citigroup market cap calculation doesn’t reflect the upcoming increase in float due to the conversion of various preferreds. This means that pure indexers are way underweight in the stock, by a factor of 4. Expect some fireworks when the convert becomes effective.
At $3.77, market cap is $20.645 billion and C’s S&P500 weight is 0.26, should move up to 1.00 approximately.
Disclosure: Long C