Why Are Mimecast Shares Trading Higher Today?

Mimecast Ltd MIME shares traded higher by 6.67% at $66.83 on the last check Wednesday.
The cloud security and risk management services provider will replace Cinemark Holdings Inc CNK in the S&P MidCap 400.
Cinemark Holdings will replace US Concrete Inc USCR in the S&P SmallCap 600.
The changes will be effective before the opening of trading on August 30.
Mimecast reported a Q1 FY22 beat and a solid Q2 outlook earlier this month.

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