Interactive Brokers to Join S&P 500, Replacing Walgreens

Retail trading platform Interactive Brokers Group Inc. will be added to the S&P 500 index later this week, replacing Walgreens Boots Alliance Inc. on the closely watched gauge of US stocks.

The changes will take place prior to the opening of trading on Aug. 28, according to a press release from S&P Dow Jones Indices. Shares of Interactive Brokers fell 0.1% to $62.70 at 11:46 a.m. in New York. Inclusion in the equity benchmark can elevate a company’s profile and boost demand for its shares from passive investment funds that track the index.