there is market weighting where based upon criteria a percentage is given that funds use as a guide as to what amount they should hold of the total market/sector.
an institution may base its own weighting if it delivers a certain style of investment mix.
having said that the weighting for a stock might be 1% so if they take up 1.1% they are OVERWEIGHTED.
it doesn't mean they will buy all of the stock available to it at the beginning or on the listing date or after.
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