Standard & Poor’s finally removed General Motors from the S&P 500. Starting Wednesday morning, GM is out.
DeVry gets promoted from the S&P MidCap 400 to take GM’s place in the S&P 500 after the market closes June 8. The same day, Aaron’s makes the leap to the MidCap 400 from the S&P SmallCap 600, and Cbeyond replaces Aaron’s in the small-cap index.
S&P made the announcement Monday after 5 p.m.
These ETFs track these indexes:
The SPDR Trust (SPY) and iShares S&P 500 Index (IVV) track the S&P 500.
The MidCap SPDRs (MDY) and iShares S&P MidCap 400 Index (IJH) track the S&P MidCap 400. The iShares S&P SmallCap 600 Index (IJR) tracks its eponymous index.
These indexes have a slew of style ETFs following them. Some ETFs allow you to track just the growth stocks in the index or the value stocks in the index. You can also buy inverse and leveraged ETFs for these indexes. They will all be changing their portfolios this week. I’m sure there will be a lot of trading in those stocks this week.
Was I responsible for S&P finally kicking GM out of the index? Check the progression.
Obviously, I’m j0king. I don’t think I’m that powerful. But, just in case, I will be concentrating my powers tomorrow to persuade the Obama Administration to finally put some limits on TARP.
lcarre01.wordpress.com 