<<Realize this could be a wash since the stock is also being removed from the SP400 index. >>
No... much more is invested in 500 than 400 funds, I used to trade these, there is no comparison in the size of the two. The 500 is huge.
<< With more than $1 trillion in indexed assets, the S&P U.S. indices have earned a reputation for being not only leading market indicators, but also investable portfolios designed for cost efficient replication, or the creation of index-linked products.>>