(Updates with stock move in the headline and first paragraph.)

Dream Finders Homes (DFH) shares were up 12% in recent Thursday trading following late Wednesday's announcement of the company's inclusion in the S&P SmallCap 600 index.

The company will replace Haynes International (HAYN) in the index before the market opens on Nov. 25, S&P Dow Jones Indices said.

Haynes International is being acquired in a deal expected to close soon.

Price: 31.25, Change: +3.34, Percent Change: +11.97