MSG Rangers and Huron Consulting Group Set to Join S&P SmallCap 600

S&P Dow Jones Indices says Arbor Realty Trust is no longer representative of the small-cap market space.

Rhea-AI Summary

Arbor Realty Trust (ABR) will leave the S&P SmallCap 600 before trading opens on October 28, 2026, as index membership changes. MSG Rangers (MSGR) will join before trading opens on October 27. Madison Square Garden Sports (MSGS) is spinning off MSG Rangers in a transaction expected to be completed on October 27. Madison Square Garden Sports will be renamed MSG Knickerbockers (MSGK) and remain in the index.

Huron Consulting Group (HURN) will replace Supernus Pharmaceuticals (SUPN) before trading opens on November 2, 2026. Indivior Pharmaceuticals (INDV) is acquiring Supernus in a deal expected to be completed soon, pending final closing conditions.

Key Figures

MSG Rangers addition: October 27, 2026 Arbor Realty Trust removal: October 28, 2026 Huron and Supernus index changes: November 2, 2026

MSG Rangers addition

October 27, 2026

S&P SmallCap 600; effective before market open

Arbor Realty Trust removal

October 28, 2026

S&P SmallCap 600; effective before market open

Huron and Supernus index changes

November 2, 2026

Huron added and Supernus removed from the S&P SmallCap 600 before market open

Key Terms

gics

1 terms

gics technical

"GICS Sector"

GICS is the Global Industry Classification Standard, a widely used system that groups publicly traded companies into sectors and industries so investors can compare, track and build portfolios by business type. Think of it like supermarket aisles that organize products—GICS organizes companies, making it easier to see trends, measure performance, and manage diversification across areas such as technology, healthcare, or consumer goods.

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NEW YORK, Oct. 22, 2026 /PRNewswire/ -- S&P Dow Jones Indices will make the following changes to the S&P SmallCap 600: 

• MSG Rangers Inc. (NYSE: MSGR) will be added to the S&P SmallCap 600 effective prior to the opening of trading on Tuesday, October 27, replacing Arbor Realty Trust (NYSE: ABR), which will be removed from the S&P SmallCap 600 effective prior to the opening of trading on Wednesday, October 28. S&P SmallCap 600 constituent Madison Square Garden Sports Corp. (NYSE: MSGS) is spinning off MSG Rangers in a transaction expected to be completed on October 27. Madison Square Garden Sports will be renamed MSG Knickerbockers Inc. (NYSE: MSGK) and will remain in the S&P SmallCap 600. Arbor Realty Trust is no longer representative of the small-cap market space.
• Huron Consulting Group Inc. (NASD: HURN) will replace Supernus Pharmaceuticals Inc. (NASD: SUPN) in the S&P SmallCap 600 effective prior to the opening of trading on Monday, November 2. Indivior Pharmaceuticals Inc. (NASD: INDV) is acquiring Supernus Pharmaceuticals in a deal expected to be completed soon, pending final closing conditions.

Following is a summary of the changes that will take place prior to the open of trading on the effective date:

Effective Date	Index Name	Action	Company Name	Ticker	GICS Sector
Oct 27, 2026	S&P SmallCap 600	Addition	MSG Rangers	MSGR	Communication Services
Oct 28, 2026	S&P SmallCap 600	Deletion	Arbor Realty Trust	ABR	Financials
Nov 2, 2026	S&P SmallCap 600	Addition	Huron Consulting Group	HURN	Industrials
Nov 2, 2026	S&P SmallCap 600	Deletion	Supernus Pharmaceuticals	SUPN	Health Care

ABOUT S&P DOW JONES INDICES

S&P Dow Jones Indices is the largest global resource for essential index-based concepts, data and research, and home to iconic financial market indicators, such as the S&P 500® and the Dow Jones Industrial Average®. More assets are invested in products based on our indices than products based on indices from any other provider in the world. Since Charles Dow invented the first index in 1884, S&P DJI has been innovating and developing indices across the spectrum of asset classes helping to define the way investors measure and trade the markets.

S&P Dow Jones Indices is a division of S&P Global (NYSE: SPGI), which provides essential intelligence for individuals, companies, and governments to make decisions with confidence. For more information, visit www.spglobal.com/spdji/en/.

FOR MORE INFORMATION:

S&P Dow Jones Indices
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View original content:https://www.prnewswire.com/news-releases/msg-rangers-and-huron-consulting-group-set-to-join-sp-smallcap-600-302917492.html

SOURCE S&P Dow Jones Indices

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

When will Arbor Realty Trust (ABR) leave the S&P SmallCap 600?

Arbor Realty Trust will be removed before trading opens on October 28, 2026. Its replacement, MSG Rangers, will enter the index before trading opens on October 27, 2026.

When will Huron Consulting Group (HURN) join the S&P SmallCap 600?

Huron Consulting Group will join the S&P SmallCap 600 before trading opens on November 2, 2026, replacing Supernus Pharmaceuticals.

Why is Arbor Realty Trust (ABR) being removed from the S&P SmallCap 600?

S&P Dow Jones Indices says Arbor Realty Trust is no longer representative of the small-cap market space.