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Why Digital Turbine Stock Was Flying Higher Today
Shares of Digital Turbine (NASDAQ: APPS), a company specializing in app installation software, were flying higher today after it was announced it’s being added to the S&P MidCap 400 index. Finance, Digital Turbine has a float of almost 87 million shares; that’s the supply of shares out there to be bought and sold. When a stock is added to an index, like Digital Turbine to the S&P MidCap 400 index, exchange-traded funds (ETFs) begin purchasing shares so they can keep tracking the index’s performance.
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