Index Rebalance Will Force $35 Billion Verizon-to-Alphabet Swap on June 29

Index-tracking funds benchmarked to the Dow must mechanically swap roughly $35 billion from Verizon into Alphabet when the index rebalance takes effect June 29, 2024. They have no choice—their job is to mirror the index composition exactly. The forced buying and selling creates real near-term price pressure on both stocks in days before and through the trade.