Crescent Energy To Replace Perficient In S&P SmallCap 600, Effective Prior To Opening Of Trading On October 4
Portfolio Pulse from Benzinga Newsdesk
Crescent Energy will replace Perficient in the S&P SmallCap 600 index, effective before the market opens on October 4. This change may impact the stock prices of both companies as index funds adjust their holdings.
October 01, 2024 | 9:17 pm
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POSITIVE IMPACT
Crescent Energy is set to join the S&P SmallCap 600 index, replacing Perficient. This inclusion may lead to increased demand for CRGY shares as index funds rebalance their portfolios.
Being added to the S&P SmallCap 600 index typically results in increased demand for a company's stock as index funds that track the index will need to purchase shares. This can lead to a short-term increase in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Perficient will be removed from the S&P SmallCap 600 index, making way for Crescent Energy. This removal may lead to decreased demand for PRFT shares as index funds sell off their holdings.
Being removed from the S&P SmallCap 600 index typically results in decreased demand for a company's stock as index funds that track the index will need to sell off shares. This can lead to a short-term decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90