Millennium's Two Index Trading Teams Make $3.7 Billion in June

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According to Bloomberg, the two index arbitrage teams under hedge fund Millennium Management made a combined profit of approximately $3.7 billion in June, accounting for more than half of the fund's roughly $6.6 billion in pre-tax gains for the month. The teams, led by Glen Scheinberg in New York and Pratik Madhvani in Dubai, capitalized on concentrated trading opportunities from the S&P 500 quarterly rebalance, Nasdaq-100 quarterly changes, Russell annual adjustments, and other index-related events.
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