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S&P Dow Jones Indices, today, announced its March 2019 quarterly rebalance of S&P/ASX Indices.
S&P Dow Jones Indices has made a slew of changes to the constituents of the various S&P/ASX indices under its management.
The affected stocks are seeing increased trading activity on the ASX. The changes announced will be effective at the open of 18 March 2019 as informed by the exchange.
The indices are designed to help investors gain insight into the performance of an asset class or a segment of that asset class. Indices are used by the market participants to benchmark portfolio performance. The constituents of the index are periodically reviewed, and changes are made to make sure the constituent securities meet the pre-determined criteria of the index that they represent.
It is to be noted that Exchange Traded Funds (ETFâs) allocate capital based on the index constitution and the security weightage in the index, hence addition/deletion of security to the index would result in increasing the trading activity in that security.
Washington H Soul Pattinson and Company Limited (ASX:SOL) is added to the S&P/ASX 100 Index. This index is structured to measure the 100 largest eligible stocks listed on the ASX. The ranking is based upon float adjusted market capitalisation.
The shares of Australia based investment house, SOL is trading at A$30.170 on the ASX, down by 1.28% (As at Friday 08 March 2019, 03:41 PM) with daily traded volume of 748,961 shares vs. average volume of 376,597 shares. SOLâs market capitalisation stands at circa $7.32 billion. The Stock has noted the 52-week high price of A$31.870 and 52-week low price of A$16.910.
HUB24 Limited (ASX:HUB) is added to the S&P/ASX 200 Index. This index is structured to measure the 200 largest eligible stocks listed on the ASX. Like the S&P/ASX 100 index, this indexâs ranking is based in float-adjusted market capitalisation.
HUB is trading at A$13.240 on the ASX, up by 4.334% (As at Friday 08 March 2019, 03:41 PM) with daily traded volume of 196,785 shares vs. average volume of 239,069 shares. HUBâs market capitalisation stands at circa $790.56 million. The Stock has noted the 52-week high price of A$15.360 and 52-week low price of A$9.565.
Carnarvon Petroleum Limited (ASX:CVN), Ramelius Resources Limited (ASX:RMS) and Paladin Energy Limited (ASX:PDN) were added to the S&P/ASX 300 Index. This index is liquid, and float adjusted and is designed to measure up to 300 of Australiaâs largest securities listed on ASX.
Carnarvon Petroleum Limited is trading at A$0.430 on the ASX, up by 2.38% (As at Friday 08 March 2019, 03:41 PM) with daily traded volume of 2,605,740 shares vs. average volume of 2,175,694 shares. CVNâs market capitalisation stands at circa $563.95 million. The Stock has noted the 52-week high price of A$0.695 and 52-week low price of A$0.125.
Ramelius Resources Limited is trading at A$0.602 on the ASX, up by 3.793% (As at Friday 08 March 2019, 03:41 PM) with daily traded volume of 3,676,102 shares vs. average volume of 2,960,764 shares. RMSâs market capitalisation stands at circa $374.09 million. The Stock has noted the 52-week high price of A$0.650 and 52-week low price of A$0.380.
And, Paladin Energy Limited is trading at A$0.165 on the ASX, up by 6.452% (As at Friday 08 March 2019, 03:41 PM) with daily traded volume of 6,768,490 shares vs. average volume of 2,251,171 shares. PDNâs market capitalization stands at circa $271.57 million. The Stock has noted the 52-week high price of A$0.220 and 52-week low price of A$0.105.
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