How do i buy the sp 500 stock?
I want too buy the sp 500 stock, yahoo says the price is currently around $1,667 but I don't know the stock symbol for it - I thought it was sox but tradeking says the symbol does not exist. Help?
- mracquireLv 57 years agoBest Answer
The S&P 500 (Yahoo! Finance symbol ^GSPC) is not a stock -- it's an index or benchmark which is a composite of 500 of the largest stocks. While you cannot trade the index per se, you can buy mutual funds or ETFs (exchange traded funds) that mirror the S&P 500 Index.
Mutual fund examples are VFINX from Vanguard and FUSEX from Fidelity. ETF examples are SPY, IVV, and VOO.
- Common SenseLv 77 years ago
You can use any of the following;
These are ETF's, which for this type of product is the least expensive way to go & the most efficient. Hopefully you know what an ETF is.
SPY is the most popular..... but the IVV & VOO are very large also and are cheaper.
Have you read one book on trading or investing? It might be a good idea to read at least 2 before you make a costly mistake.
- ag318punLv 77 years ago
You should try Vanguard. Their S&P 500 Index Fund
(VFINX) is one of the best at a very low fee.