Frontier Communications Gains 8% As It Is Set To Join S&P MidCap 400

Shares of Frontier Communications Parent, Inc. (FYBR) are gaining over 8% on Wednesday morning driven by the news that the company is set to join S&P MidCap 400.

FYBR is currently trading at $24.00, up $1.78 or 8.01%, on the Nasdaq, on a volume of 3.3 million shares, above average volume of 1 million. The stock opened its trading at $23.68 after closing Tuesday's trading at $22.22. The stock has traded between $21.06 and $35.15 in the past 52-week period.

Frontier Communications will replace Hain Celestial Group Inc. (HAIN) in the S&P Midcap 400, while Hain Celestial will replace Hanger Inc. (HNGR) in the S&P SmallCap 600 effective prior to the opening of trading on Monday, October 3.

Patient Square Capital, LP. is acquiring Hanger in a deal expected to be completed soon pending final closing conditions.

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