OSI Systems (OSIS) To Join S&P SmallCap 600, Shares Up 4%

Shares of OSI Systems, Inc (Nasdaq: OSIS) were up nearly 4% at $25.54 during after hours trading, after it was announced that the electronics manufacturer would replace Iowa Telecommunications Services Inc (NYSE: IWA) in the S&P SmallCap 600.

Iowa Telecommunications Services Inc is being removed from the index because the company is being acquired by Windstream Corporation (Nasdaq: WIN).

It is one of several changes that Standard & Poor's is making to its indexes, brought about by mergers and acquisitions activity.

The switch will take place at the close of trading on Friday May 28.