S&P Dow Jones Indices adds PTON and UTI to the S&P SmallCap 600 index effective May 27 trading session.
Peloton Interactive (PTON) and Universal Technical Institute (UTI) will be added to the S&P SmallCap 600 index, S&P Dow Jones Indices announced. The changes take effect prior to the market open on Wednesday, May 27.
The S&P SmallCap 600 tracks companies with market capitalizations typically ranging from $800 million to $3.6 billion. Inclusion in the index often leads to increased visibility and passive fund inflows as index-tracking funds adjust their holdings.
No immediate market reaction was disclosed in the announcement.