Hilton Grand Vacations (NYSE:HGV) jumped 6.55% in Monday morning trading after being selected to be a constituent in the S&P MidCap 400.
The S&P MidCap 400 Index is described as providing investors with a benchmark for mid-sized companies. The index, which is distinct from the large-cap S&P 500, is designed to measure the performance of 400 mid-sized companies, reflecting the distinctive risk and return characteristics of this market segment. HGV will be part of the index beginning on March 20.
Shares of HGV crossed $50 for the first time this year on Monday and swapped hands at a price as high as $51.81.
The S&P callup arrived with Seeking Alpha contributors and Wall Street analysts both have consensus Buy ratings on Hilton Grand Vacations.