Hawaiian Electric Industries (NYSE: HE) saw a surge in its stock price by 11% after news broke that it will be included in the S&P SmallCap 600 Index. This move came as part of S&P Global Indices’ quarterly rebalancing, which added 14 stocks to the index, including Hawaiian Electric. The index adjustments will take effect on Dec. 22, potentially impacting the stock’s performance. While inclusion in an index can attract index funds, investors should still focus on the company’s fundamentals rather than solely on its index status. The Motley Fool Stock Advisor team has identified 10 top stocks to consider, but Hawaiian Electric Industries did not make the list.

Read more at Nasdaq: Why Hawaiian Electric Industries Stock Was Soaring Today