SpaceX stock was rising to start the week and it could be set for another boost as the Nasdaq-100's quarterly rebalancing takes effect Monday.

The rocket and satellite company's weighting in the tech-heavy index is expected to increase substantially, triggering more passive fund buying. Its weight in the index could more than double to 2.82% from 1.28%, Bloomberg reported citing data from the index provider.

SpaceX was fast-tracked into the index in July, less than a month after its blockbuster IPO. Its relatively low weighting, despite its $2 trillion market capitalization, is due to Nasdaq adjusting index weight based on a company's free float-how many shares are publicly available.

Most of the company's shares were locked up when it first entered the index.

The shares could do with a boost-they've climbed back above their IPO open price of $150 but are down more than 10% since the start of July. The stock pointed 0.4% higher at $153.38 ahead of the open Monday.