Billionaires Buy a Popular AI Index Fund That Could Turn $450 Per Month Into $389,000

Two hedge fund billionaires with solid track records bought a technology-focused index fund in the second quarter.

The Invesco QQQ Trust ( QQQ -1.16% ) is the fifth-most popular index fund on the market in terms of assets under management. Two hedge fund billionaires bought shares in the second quarter:

Chris Rokos of Rokos Capital Management purchased 926,700 shares of the Invesco QQQ Trust, starting a new position. It ranks as his second-largest holding excluding options.

Cliff Asness of AQR Capital Management purchased 31,600 shares of the Invesco QQQ Trust, increasing his position 29%. It remains a relatively small holding.

Importantly, Rokos and Asness outperformed the S&P 500 ( ^GSPC -0.64% ) by over 10 percentage points in the last three years, which makes both m