SanDisk lands S&P 100 seat as funds pile into SNDK

SanDisk Corp. (SNDK) jumped about 11.9% as it prepares to join the S&P 100 on Sept. 21, replacing Nike, Simon Property Group, Colgate-Palmolive and Honeywell Aerospace, a move that could boost visibility with institutions and lift demand. Hedge funds increased their SNDK exposure in Q2, with 128 funds holding the stock and aggregate positions rising 125% to $25.6 billion quarter-over-quarter, according to Insider Monkey. Management also highlighted upcoming appearances at Citi’s Global TMT Conference and Goldman Sachs’ Communacopia + Technology Conference next week.