GXO Logistics (GXO), Victoria's Secret (VSCO) & GameStop (GME) Set to Join S&P MidCap 400; Strategic Education (STRA), World Fuel Services (INT) & Lakeland Financial (LKFN) to Join S&P SmallCap 600
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S&P Dow Jones Indices will make the following changes to the S&P MidCap 400 and S&P SmallCap 600:
• GXO Logistics Inc. (NYSE: GXO) will join the S&P MidCap 400 effective prior to the opening of trading on Monday, August 2. Effective prior to the opening of trading on Tuesday, August 3, S&P MidCap 400 constituent Strategic Education Inc. (NASDAQ: STRA) will replace Bel Fuse Inc. (NASDAQ: BELFB) in the S&P SmallCap 600. S&P MidCap 400 constituent XPO Logistics Inc. (NYSE: XPO) is spinning off GXO Logistics in a transaction expected to be effective prior to the open on August 2. XPO Logistics will remain in the S&P MidCap 400. Strategic Education has a market capitalization more representative of the small-cap market space. Bel Fuse is no longer representative of the small-cap market space. XPO Logistics will change its Global Industry Classification Standard (GICS) sub-industry group to Trucking following the spin-off transaction.
• Victoria's Secret & Co. (NYSE: VSCO) will replace World Fuel Services Corp. (NYSE: INT) in the S&P MidCap 400, and World Fuel Services will replace Spok Holdings Inc. (NASDAQ: SPOK) in the S&P SmallCap 600 effective prior to the opening of trading on Wednesday, August 4. S&P 500 constituent L Brands (NYSE: LB) is spinning off Victoria's Secret in a transaction expected to be effective prior to the open of trading on August 3. Post spin-off, L Brands will remain in the S&P 500. It will have a name and symbol change to Bath & Body Works Inc. (NYSE: BBWI), and a GICS sub-industry group change to Specialty Retailer. World Fuel Services is more representative of the small-cap market space. Spok Holdings is no longer representative of the small-cap market space.
• S&P SmallCap 600 constituent GameStop Corp. (NYSE: GME) will replace Weingarten Realty Investors (NYSE: WRI) in the S&P MidCap 400, and Lakeland Financial Corp. (NASDAQ: LKFN) will replace GameStop in the S&P SmallCap 600 effective prior to the opening of trading on Wednesday, August 4. S&P 500 constituent Kimco Realty Corp (NYSE: KIM) is acquiring Weingarten Realty
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