Shake-ups come infrequently for the Dow Jones Industrial Average, but some degre...
NEW YORK - Shake-ups come infrequently for the Dow Jones Industrial Average, but some degree of change may be in the works for the stock index as two of its 30 constituents prepare to transform from large conglomerates into smaller companies.
While many professional investors prefer other stock gauges to the Dow, membership in the blue-chip index - often thought of as Main Street’s market barometer - still carries allure because of its relatively few constituents. Funds with billions of dollars under management are also linked to the index, so constituent changes affect flows into and out of stocks.
Any time there is a corporate action in an index, McConville said, “S&P DJI will review the index and make any necessary changes and issue a public announcement before the transaction takes place.” The overall level of the Dow does not change when its components do, because the divisor used to calculate the index is adjusted.
One remaining piece of DowDuPont - the only materials sector stock in the Dow - could stay in the Dow Jones index.
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