e.l.f. Beauty To Replace Spirit Realty Capital In S&P MidCap 400, Effective Prior To Opening Of Trading On January 23
Portfolio Pulse from Benzinga Newsdesk
e.l.f. Beauty (ELF) is set to replace Spirit Realty Capital (SRC) in the S&P MidCap 400 index before the market opens on January 23. This change could influence the stock prices of both companies as index funds reallocate their portfolios to reflect the updated composition of the MidCap 400.
January 17, 2024 | 10:23 pm
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NEGATIVE IMPACT
Spirit Realty Capital's removal from the S&P MidCap 400 could result in selling pressure from index funds, which may negatively impact its stock price in the short term.
Being removed from an index often leads to selling by index funds that need to adjust their holdings to match the index. This can cause a short-term decline in the stock price as the market absorbs the excess supply.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
e.l.f. Beauty's inclusion in the S&P MidCap 400 may lead to increased demand for its shares from index funds, potentially boosting its stock price in the short term.
Stocks added to major indices like the S&P MidCap 400 typically experience increased demand from index funds and ETFs that track the index, which can lead to a short-term rise in stock price due to the buying pressure.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100