Why Hamilton Lane Stock Soared by 4% on Monday
The latest news item published by an influential financial-services company had a very positive knock-on effect on Hamilton Lane (NASDAQ: HLNE) shares Monday. The stock of the under-the-radar financial-services provider leaped more than 4% higher on the day as a result, easily topping the 1.2% gain of the S 500 index.
After market hours on Friday, S Global's S Dow Jones Indices unit announced the latest set of changes to several of its stock indexes. One of these adjustments propelled Hamilton Lane into the S index family, which for many investors and market professionals is the leading group of market indicators.
Specifically, Hamilton Lane is to become a component stock of the S MidCap 400 index where it is replacing semiconductor company Wolfspeed. The former is one of six companies joining the mid-cap grouping, only one of which -- Fabrinet -- is advancing from a "lower" index in the family, specifically the S SmallCap 600.
Source Fool.com
