S&P Dow Jones Indices announces Five9’s inclusion in the SmallCap 600 index, replacing Two Harbors following its acquisition.
Five9 will be added to the S&P SmallCap 600 index effective August 3, taking the place of Two Harbors Investment. The change follows Two Harbors’ pending acquisition by CrossCountry Mortgage, expected to finalize soon.
The S&P SmallCap 600 tracks companies with market capitalizations typically ranging from $800 million to $3.6 billion. Five9, a cloud contact center software provider, currently meets the index’s eligibility criteria, while Two Harbors’ removal aligns with its upcoming acquisition.
Index adjustments often trigger passive fund rebalancing as funds tracking the benchmark adjust their holdings.