Erie Indemnity shares are trading higher after it was announced the stock will join the S&P MidCap 400.
Portfolio Pulse from Benzinga Newsdesk
Erie Indemnity's stock is trading higher following the announcement that it will join the S&P MidCap 400.
August 04, 2023 | 11:57 am
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Erie Indemnity's stock price is expected to rise in the short term 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 company's stock, as funds that track the index will need to purchase the stock. This increased demand can lead to a rise in the stock's price.
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