RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:I smell $11.00+The inclusion into the Index is what triggers the buying. So first the inclusion has to happen in this case this is slated for June 2020.
When a stock is included in an index the funds that comprise the index have to buy a share in that stock propotional to the value OVV brings to the index. The number of shares acquired is going to vary drastically in line with the percentage of the total assets represented by the new stock. In some of the larger funds, the managers might not even buy every component because of the high transaction costs. They may choose to use derivatives to obtain coverage, in which case inclusion may lead to a small but permanent increase in the price. When OVV is included it will represent a certain percentage of the overall index, lets say 2%...this should trigger rebalancing that has to happen pretty quick may be a month?? I dont know but what I can say at the end of it the total should remain 100% and not 102% or 98%.
Not sure what dictates the deadline but my assumptions is there has to be one.