Penske Automotive Group shares are trading higher after it was announced the stock will join the S&P MidCap 400.
Portfolio Pulse from Benzinga Newsdesk
Penske Automotive Group's stock is trading higher following the announcement that it will join the S&P MidCap 400.

August 04, 2023 | 11:55 am
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Penske Automotive Group's stock is expected to see a short-term increase due to its inclusion in the S&P MidCap 400.
Inclusion in an index like the S&P MidCap 400 often leads to increased demand for a stock, as it becomes part of the portfolios of funds that track the index. This increased demand can lead to a short-term increase in the stock's price.
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