Shares of Swick Mining Services Limited (ASX:SWK) closed at 0.21 yesterday. Swick Mining Services Limited currently has a total float of 231.45 million shares and on average sees 138,608 shares exchange hands each day. The stock now has a 52-week low of 0.185 and high of 0.26.

This Is Why S&P/ASX 200 Is Up 4.7% For The Year

S&P/ASX 200 is a leading market index that features Australia’s top 200 companies ranked based on market capitalization. Swick Mining Services Limited is one of many involved in trades. The index first went online in April of 2,000 after inheriting all the data from All Ordinaries. The index does not have restrictions on the kind of companies that can be listed as long as one meets the minimum eligibility requirements.

ASX 200 Highs and Lows

Since its inception, the index all time high stands at 6828.70 points recorded in November 2007. The index boasts of an all-time low of 1358.50 points registered in November 1992 and inherited from All Ordinaries.

The index currently covers 80% of Australia’s equity market something that has made it a reliable tool for gauging the health of the country’s equity market. ASX 200 is also liquidperfect from addressing all kinds of investment needs for managers who need to diversity in their portfolio. Good liquidity of Swick Mining Services Limited attracted traders at the market.

S&P/ ASX 200 is market-capitalization weighted, meaning its rating can only move up or down, based price changes of stocks listed. Weighted points are not in any way affected by changes in market capitalization not tied to stock prices. Unlike other indexes, ASX 200 does to take into consideration-restricted stocks normally issued to strategic investor’s, governments or venture capitalists as these are deemed strategic holdings mostly considered log term investments.

Listing Requirements

Companies that would wish to be listed in the index must first have their shares listed on the country’s national bourse, the ASX. Liquidity of a stock is another factor that is usually taken into consideration prior to a company being listed. The index also ensures that no single company dominates trading.

Rebalancing of the index usually takes place every three months in a bid to ensure that all the stocks listed meet the minimum requirement. In the just concluded rebalancing carried out on September 16, 2016, six companies were dropped and consequently replaced by six others that had met the minimum requirement.

The index rebalancing is normally carried out by a five-panel ‘index committee’ with the next one slated for December 16, 2016. While rebalancing can reduce the number of stocks listed, the committee cannot list more than 200 companies. Fortunately, Swick Mining Services Limited is one of them.

Some of the sectors that feature prominently in the index include utilities, financials, and Healthcare. Financials account for a huge chunk of the index’s total weighted points, at 40% with the second one accounting for less than 20%. The index total equity capitalization on the other hand accounts for 80% of Australian Securities Exchange total capitalization.

ASX 200 Performance

The S&P ASX 200 is currently up by 4.7% for the year as institutional and retail investors continue to scramble for positions in some of the companies with solid growth prospects. Strong corporate governance is one of the reasons that most investors are showing strong interest in the country’s top tier companies most of which are listed in the ASX 200.

Australia also boasts of one of the lowest interest rate environment in the developed world seen as a key drawer of investments from investors abroad. Companies like Swick Mining Services Limited are the safe haven for many.

More notable recent Swick Mining Services Limited (ASX:SWK) news were published by: Gurufocus.com which released: “Apr 11, 2019 – DnB Asset Management AS Buys Microsoft Corp, Charter Communications Inc, Cigna Corp, Sells Cigna Corp, Western Digital Corp, SunTrust Banks Inc – GuruFocus.com” on April 11, 2019, also Fool.com.Au with their article: “These 3 ASX small caps are storming higher today – Motley Fool Australia” published on July 18, 2018, Gurufocus.com published: “Apr 11, 2019 – Gradient Investments LLC Buys Invesco S&P 500 Low Volatility, iShares S&P 500 Value, Vanguard Intermediate-Term Corporate Bond ETF, Sells SPDR Portfolio Aggregate Bond, SPDR Portfolio Short Term Corporate Bond, SPDR Portfolio Developed World ex-US – GuruFocus.com” on April 11, 2019. More interesting news about Swick Mining Services Limited (ASX:SWK) were released by: Globenewswire.com and their article: “pSivida Corp. Announces Transformative Acquisition of Icon Bioscience Inc. and Growth Capital Financing with Essex Woodlands Healthcare Partners – Company Will Rebrand as EyePoint Pharmaceuticals, Inc. – GlobeNewswire” published on March 28, 2018 as well as ‘s news article titled: “Deadly Brazil dam collapse was disaster waiting to happen – Yahoo News” with publication date: February 02, 2019.

Swick Mining Services Limited provides mineral drilling contract services to the mining industry in the Asia Pacific and internationally. The company has market cap of $48.61 million. The firm offers services primarily in the areas of underground diamond drilling and surface reverse circulation drilling. It has a 21 P/E ratio. It also carries out research and development activities in mineral analysis technologies.