Updating its requirements to reflect the long bull market, S&P Global (NYSE: SPGI) unit S&P Dow Jones Indices is raising the market capitalization requirements for stocks to be listed on three of its key indexes.

Effective Monday, stocks will be required to have a market value of at least $6.1 billion for listing on the S&P 500, $1.6 billion to $6.8 billion to be included on the S&P MidCap 400, and $450 million to $2.1 billion to be on the S&P SmallCap 600. The previous figures were at least $5.3 billion, $1.4 billion to $5.9 billion, and $400 million to $1.8 billion, respectively.

The last time S&P Dow Jones Indices made such an adjustment to its benchmark indexes was in the summer of 2014.

The company pointed out that the S&P 500 has risen by nearly 6% so far in 2017, and by 19% over the past year.

The change will have an immediate effect on the composition of the three indexes. Former S&P MidCap 400 stocks Advanced Micro Devices (NASDAQ: AMD), a chip maker, financial services company Raymond James Financial (NYSE: RJF), and real estate investment trust Alexandria Real Estate Equities (NYSE: ARE) have advanced to the S&P 500. They switch places with Urban Outfitters, Frontier Communications, and First Solar

Further down the chain, three ex-S&P SmallCap 600 constituents will trade places with a trio of S&P MidCap 400 members. The stocks advancing are video game maker Take-Two Interactive, medical monitoring concern Masimo, and laser technology specialist Coherent. The three going from MidCap to SmallCap in the trade are Fossil Group, Denbury Resources and Vista Outdoor.

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The author(s) may have a position in any stocks mentioned.

 

Eric Volkman has no position in any stocks mentioned.

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