Stock Market

KKR Stock Pops 10% on June 21 Inclusion in the S&P 500

KKR (NYSE:KKR) stock is up on Monday as investors prepare for the company to be added to the S&P 500 later this month.

The S&P 500 is set to undergo its quarterly rebalance on June 21. When that happens, several stocks will be replaced on the index by new stocks. This will see them join the index before markets open on June 24.

KKR won’t be alone when it joins the S&P 500. It will do so alongside GoDaddy (NYSE:GDDY) and CrowdStrike (NASDAQ:CRWD) shares. This will see them replace Robert Half (NYSE:RHI), Comerica (NYSE:CMA) and Illumina (NASDAQ:ILMN) on the index.

How This Affects KKR Stock

Being added to the S&P 500 is a positive catalyst for KKR stock. This has the shares gaining today with heavy trading. As of this writing, more than 9.6 million shares have changed hands. That’s well above its daily average trading volume of 3.4 million shares.

Investors will note that it’s possible this news could bring further gains to KKR stock. Traders might see the company’s shares undergo another rally when the stock is added to the S&P 500 later this month.

KKR stock is up 10.4% as of Monday morning. The stock is also up 33.1% since the start of the year.

Investors seeking out even more of the most recent stock market stories are going to want to stick around!

We have all of the hottest stock market news traders need to know about on Monday! A few examples include what’s going on with shares of FuelCell Energy (NASDAQ:FCEL) stock and more details on shares joining the S&P 500. You can catch up on all of these matters at the following links!

More Stock Market New for Monday

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

Article printed from InvestorPlace Media,

©2024 InvestorPlace Media, LLC

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