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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.
Today is forecast to be Cooler than yesterday.
Tuesday 08/21 0%
High 71° / Low 50°
Partly cloudy. High 71F. Winds N at 10 to 20 mph.
Wednesday 08/22 10%
High 77° / Low 57°
Partly cloudy. High 77F. Winds WSW at 5 to 10 mph.
Thursday 08/23 20%
High 73° / Low 66°
A mix of clouds and sun in the morning followed by cloudy skies during the afternoon. A stray severe thunderstorm is possible. High 73F. Winds S at 10 to 20 mph.
Meta Financial Group Inc. is being added S&P SmallCap 600 Index.
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