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From staff reports
Sioux Falls-based Meta Financial Group Inc. is being added to the S&P SmallCap 600 Index.
The company, which trades on Nasdaq under the ticker symbol CASH, will be added after the close of business Sept. 15.
The S&P 600 is an index offered by S&P Dow Jones Indices that’s designed to measure the small-cap segment of the U.S. equity market.
“We are happy for this new opportunity to be added to the S&P SmallCap 600 index,” said Tyler Haahr, chairman and CEO of Meta Financial Group. “This is a positive development for us and is the result of the profitable growth we have seen over the last few years.”
The research firm Keefe, Bruyette & Woods estimates that S&P 600 index funds will need to purchase 516,000 shares of Meta. The stock’s one-month average daily trading volume is 66,000 shares.
Meta stock was up 11 percent, or $7.65 per share, in trading Monday after the news came out.
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Meta Financial Group Inc. is being added S&P SmallCap 600 Index.
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