Casey's General Stores to Join S&P 500 on April 9

Index funds that track the S&P will have to buy shares, which can lift prices around the effective date.

Overview

S&P Dow Jones Indices confirmed late Monday that Casey's will replace Hologic in the S&P 500 before trading opens Thursday, April 9.
Hologic is set to leave the index because affiliates of Blackstone and TPG are taking the company private in a deal expected to close around April 7.
The reshuffle cascades across indexes as DigitalOcean moves up to the S&P MidCap 400 and Broadstone Net Lease enters the S&P SmallCap 600.
Investors reacted after hours to the announcement, with Casey's up about 4% and Broadstone Net Lease up 5.1% in late trading.
Casey's meets S&P 500 profitability rules and has topped earnings forecasts for eight straight quarters, a track record that helped clear its path into the index.