In this photo illustration, the Interactive Brokers LLC logo seen displayed on a smartphone.
Igor Golovniov | LightRocket | Getty Images
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.
Talen Energy will take Interactive Brokers’ spot in the S&P MidCap 400, also Thursday, S&P Dow Jones Indices said. The independent power producer’s stock gained more than 3% in extended trading after the announcement. Talen has been seen as a beneficiary of increased power demand stemming from increased electrification and the rise of artificial intelligence data centers. Its stock has climbed 76% year to date.
On Sept. 2, Kinetik Holdings will replace Pacific Premier Bancorp in the S&P SmallCap 600, the index provider said. Pacific Premier Bancorp is set to be acquired by Columbia Banking System.