NEW YORK, Feb. 24, 2014 /PRNewswire/ -- S&P Dow
Jones Indices will make the following changes to the S&P MidCap
400 and S&P SmallCap 600 indices after the close of trading on
Friday, February 28:
- Knowles Corp. (NYSE:KNwi) will replace Apollo Investment Corp.
(NASD:AINV) in the S&P MidCap 400. S&P 500 constituent
Dover Corp. (NYSE:DOV) is spinning off Knowles to shareholders in a
transaction expected to be effective after the close of trading on
that date. Dover will remain in the S&P 500 after the spin-off.
Due to an announced U.S. Indices methodology change scheduled to
become effective with the March quarterly rebalance, business
development companies (BDCs) will no longer be eligible for U.S.
Indices. Apollo Investment operates as a BDC.
- 8x8 Inc. (NASD:EGHT) will replace Prospect Capital Corp.
(NASD:PSEC) in the S&P SmallCap 600. Prospect Capital operates
as a BDC.
- Universal Insurance Holdings Inc. (NYSE:UVE) will replace Avid
Technology Inc. (NASD:AVID) in the S&P SmallCap 600. Due to
regulatory compliance issues, Avid Technology is being delisted
from the NASDAQ Stock Market on Tuesday,
February 25, and it will no longer be eligible for inclusion
in the S&P SmallCap 600.
Knowles Corporation designs, manufactures and sells advanced
micro-acoustic, specialty components, and human interface
solutions. Headquartered in Itasca,
IL, the company will be added to the S&P MidCap 400 GICS
(Global Industry Classification Standard) Electronic Components
Sub-Industry index.
8x8 provides unified communications and collaboration services.
Headquartered in San Jose, CA, the
company will be added to the S&P SmallCap 600 GICS Alternative
Carriers Sub-Industry index.
Universal Insurance Holdings operates as a property and casualty
insurance company. Headquartered in Fort
Lauderdale, FL, the company will be added to the S&P
SmallCap 600 GICS Property & Casualty Sub-Industry index.
Following is a summary of the changes:
S&P MIDCAP 400
INDEX – February 28, 2014
|
|
COMPANY
|
GICS ECONOMIC
SECTOR
|
GICS
SUB-INDUSTRY
|
ADDED
|
Knowles
|
Information
Technology
|
Electronic
Components
|
DELETED
|
Apollo
Investment
|
Financials
|
Asset Management
& Custody Banks
|
S&P SMALLCAP
600 INDEX – February 28, 2014
|
|
COMPANY
|
GICS ECONOMIC
SECTOR
|
GICS
SUB-INDUSTRY
|
ADDED
|
8x8
|
Telecommunications
Services
|
Alternative
Carriers
|
|
Universal
Insurance
|
Financials
|
Property &
Casualty Insurance
|
DELETED
|
Prospect
Capital
|
Financials
|
Asset Management
& Custody Banks
|
|
Avid
Technology
|
Information
Technology
|
Computer
Hardware
|
Additions to and deletions from S&P Dow Jones Indices
do not in any way reflect an opinion on the investment merits of
the companies involved.
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For more information:
David Blitzer
Managing Director and Chairman of the Index Committee
S&P Dow Jones Indices
(+) 212 438 3907
david.blitzer@spdji.com
David R. Guarino
Communications
S&P Dow Jones Indices
(+1) 212 438 1471
dave.guarino@spdji.com
SOURCE S&P Dow Jones Indices