Burlington Stores To Replace Envestnet In S&P MidCap 400
Portfolio Pulse from Benzinga Newsdesk
Burlington Stores (BURL) will replace Envestnet (ENV) in the S&P MidCap 400 index. This change is likely to increase the demand for BURL shares and decrease the demand for ENV shares.
November 02, 2023 | 9:18 pm
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POSITIVE IMPACT
Burlington Stores is set to join the S&P MidCap 400, which could increase demand for its shares.
Inclusion in an index like the S&P MidCap 400 often leads to increased demand for a company's shares, as funds that track the index will need to purchase the stock. This could potentially drive up the price of BURL shares in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Envestnet is being removed from the S&P MidCap 400, which could decrease demand for its shares.
Being removed from an index like the S&P MidCap 400 often leads to decreased demand for a company's shares, as funds that track the index will need to sell the stock. This could potentially drive down the price of ENV shares in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100