Academy Sports & Outdoors shares jump after news it’s headed for the S&P Small Cap 600 Index

Academy Sports & Outdoors Inc. ASO, +8.65% shares jumped nearly 10% on Monday after it was announced the retailer would join the S&P Small Cap 600 Index SML, -1.17%, effective prior to the opening of Wednesday trading. Academy Sports replaces Kraton Corp. KRA, +0.02%, which is being acquired by DL Chemical Co., Ltd. Academy recently announced its expansion into new markets, including Virginia. Academy stock has run up 35.4% over the last year. The S&P Small Cap 600 is down 8.7%. And the S&P 500 index SPX, -0.74% is up 6.6% for the period.