Shares of KEMET Corporation (NYSE: KEM) have jumped today, up by 13% as of 10:45 a.m. EDT, after S&P Dow Jones Indices announced that it would be adding the company to the S&P SmallCap 600 index, spurring buying among index funds that track the index.
Among other index constituent changes, KEMET is replacing Astoria Financial in the S&P SmallCap 600, and the change will be effective "prior to the open of trading on Monday, October 2." As you can probably guess, the S&P SmallCap 600 measures the small-cap segment of the U.S. equity market.
Image source: KEMET.
Source: Fool.com