Investing.com -- Shares of Cava Group Inc. (NASDAQ:CAVA) and ANGI Homeservices Inc. (NASDAQ: ANGI ) saw an uptick in Monday’s trading session, with CAVA up 3.3% and ANGI climbing 4.6%. The movement comes on the heels of an announcement by S&P Dow Jones Indices regarding changes to its S&P MidCap 400 and S&P SmallCap 600 indices.

Cava Group Inc. is set to replace Altair Engineering Inc. (NASDAQ: ALTR ) in the S&P MidCap 400, effective prior to the market opening on Monday, March 31. The inclusion follows Siemens AG (OTC: SIEGY )’s acquisition of Altair Engineering, which was completed today.

Similarly, Angi Inc. is poised to replace The ODP Corp. (NASDAQ: ODP ) in the S&P SmallCap 600. The change is scheduled to take effect before trading begins on Wednesday, April 2. This adjustment is a result of S&P SmallCap 600 constituent IAC Inc. (NASDAQ: IAC ) spinning off its ownership interest in ANGI. The transaction is expected to finalize on Tuesday, April 1, with IAC retaining its position in the S&P SmallCap 600 post spin-off. The update reflects The ODP Corp.’s market capitalization, which is now considered unrepresentative of the small-cap market space.

The adjustment of index constituents often leads to shifts in stock prices as funds tracking the indices adjust their portfolios to mirror the changes. Stocks added to indices can see increased demand from index funds and investors, while those removed may experience selling pressure.

The changes to the indices are purely administrative and reflect the evolving market capitalizations and structures of the companies involved. For investors, the inclusion of Cava Group and Angi in their respective indices may enhance visibility and could potentially lead to broader investor interest over time.

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