Cohen & Steers To Join S&P SmallCap 600, Replacing Kaman, Effective Prior To Opening Of Trading On April 23
Portfolio Pulse from Benzinga Newsdesk
Cohen & Steers (CNS) will join the S&P SmallCap 600, replacing Kaman (KAMN), effective before trading opens on April 23. This change follows Arcline Investment Management LP's acquisition of Kaman, with the deal expected to close on April 19, pending final conditions.
April 18, 2024 | 9:19 pm
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POSITIVE IMPACT
Cohen & Steers joining the S&P SmallCap 600 could lead to increased investor interest and potentially higher stock prices in the short term.
Joining an index like the S&P SmallCap 600 often results in increased demand for a stock as index funds and ETFs that track the index add the stock to their portfolios. This can lead to a short-term increase in stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Kaman's removal from the S&P SmallCap 600 and acquisition by Arcline Investment Management LP might lead to decreased visibility and potentially lower stock prices in the short term.
Being removed from an index generally leads to a decrease in demand for the stock from index funds and ETFs, potentially resulting in a short-term decrease in stock price. The acquisition also shifts focus away from public market performance.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90