Sally Beauty shares saw a 6% jump on Monday after the company announced that it would be joining the S&P MidCap 400. The company will be replacing R.R. Donnelley & Sons, which will move into the S&P SmallCap 600 index.
On Monday the stock traded over 5 million shares, which was more than triple its 30-day moving average volume of 1.5 million shares, according to market data.
Disclaimer: We have no position in Sally Beauty Holdings, Inc. (NYSE: SBH) and have not been compensated for this article.