Avid Bioservices, Inc. [NASDAQ: CDMO] disclosed that it has decided to join S&P SmallCap 600. Avid Bioservices Inc will take the place of Cadence Bancorporation [NYSE: CADE] in the S&P SmallCap 600. The decision will be applied before the commencement of trading on Friday, October 29.
S&P Dow Jones Indices has earned a reputation as the largest global resource for essential index-based concepts, data, and research, and home to iconic financial market indicators, such as the S&P 500 and the Dow Jones Industrial Average. The S&P SmallCap 600 Index is a stock market index created by Standard & Poor’s. It includes nearly the small-cap range of American stocks, employing a capitalization-weighted index.
Furthermore, S&P MidCap 400 constituent BancorpSouth Bank (NYSE: BXS) is purchasing Cadence Bancorporation in a deal anticipated to execute on or about that date pending final conditions.