Why Hamilton Lane Stock Soared by 4% on Monday

The latest news item published by an influential financial-services company had a very positive knock-on effect on Hamilton Lane (NASDAQ: HLNE) shares Monday. The stock of the under-the-radar financial-services provider leaped more than 4% higher on the day as a result, easily topping the 1.2% gain of the S&P 500 index.After market hours on Friday, S&P Global's S&P Dow Jones Indices unit announced the latest set of changes to several of its stock indexes. One of these adjustments propelled Hamilton Lane into the S&P index family, which for many investors and market professionals is the leading group of market indicators. Specifically, Hamilton Lane is to become a component stock of the S&P MidCap 400 index where it is replacing semiconductor company Wolfspeed. The former is one of six companies joining the mid-cap grouping, only one of which -- Fabrinet -- is advancing from a "lower" index in the family, specifically the S&P SmallCap 600. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool