The iSentia Group Ltd (ASX: ISD) share price has risen 1% to nearly $1.78.
The share price's jump comes despite this morning's announcement that the company would no longer be represented in the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) index as part of the S&P Dow Jones Indices quarterly rebalance.
iSentia, and two other businesses, will be replaced by the likes of Washington H. Soul Pattinson and Co. Ltd (ASX: SOL), NIB Holdings Limited (ASX: NHF) and Charter Hall Long WALE REIT (ASX: CLW).
Some funds are mandated to only purchase companies within certain indices. Hence, iSentia's removal from the index could cause some movement in its share price as those funds reallocate their capital, at least in the near term.
iSentia is a media intelligence company. Its shares have come under intense pressure over the past 18 months or so following a series of disappointing results with the latest coming in August.
