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Diebold Nixdorf stock price rises due to inclusion in the S&P SmallCap 600 Index
Investing.com – Diebold Nixdorf Inc(NYSE:DBD) shares rose 3.8% in after-hours trading on Tuesday, after the company said it would be added to the S&P SmallCap 600 index.
S&P Dow Jones Indices said Diebold Nixdorf will replace Sealed Air Corp.(NYSE:SEE) in the S&P SmallCap 600 index before the market opens on Friday. The index change is due to Clayton, Dubilier & Rice LLC’s acquisition of Sealed Air, a deal expected to be completed on April 9.
Inclusion in an index typically attracts purchases from passive funds that track the benchmark, because these funds must adjust their holdings to match the index’s constituents. The S&P SmallCap 600 index tracks U.S. small-caps and is a widely watched indicator for the small-cap market segment.
Diebold Nixdorf is categorized in the information technology sector and will take Sealed Air’s place, which currently operates in the materials sector.
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