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Interactive Brokers to join S&P 500, replacing Walgreens
S&P Dow Jones Indices said Monday that it will add Interactive Brokers to the S&P 500 Index at the opening of trading on Thursday.
The brokerage service is replacing Walgreens Boots Alliance, which is being taken private in a deal with Sycamore Partners that is expected to close soon.
Interactive Brokers shares jumped nearly 5% in after-hours trading on the news. The stock has doubled over the past year, and is up 42% year to date.
Meanwhile, Robinhood Markets shares were slightly lower in extended trading. Some investors have had high hopes that the digital brokerage would be added to the index. Robinhood shares are up nearly 190% since the start of the year, putting its market cap at nearly $96 billion.
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