McGrath RentCorp (MGRC) rose nearly 10% in late trading Monday after S&P Dow Jones Indices announced it would join the S&P SmallCap 600. The changes follow Kimberly-Clark's planned acquisition of Kenvue: Okta (OKTA) will replace Kenvue in the S&P 500, Glaukos (GKOS) will replace Okta in the S&P MidCap 400, and McGrath RentCorp will replace Glaukos in the SmallCap 600. All changes take effect before market open on Wednesday, Nov. 4. The article notes that index inclusion has little operational impact but tends to lift trading volume through index funds, and that this "index effect" is typically short-lived, so it is not enough reason on its own to trade the stock.
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