ON Semiconductor, Keurig Dr Pepper and VICI Properties Will Join the S&P 500 in June

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The floor of the New York Stock Exchange.

Photo by Michael M. Santiago/Getty Images)

S&P Dow Jones Indices will add multiple companies to the S&P 500 in the coming weeks, including ON Semiconductor , Keurig Dr Pepper , and VICI Properties .

ON Semiconductor (ticker: ON) and the drinks producer Keurig Dr Pepper (KDP) will replace IPG Photonics (IPGP) and Under Armour (UAA), respectively in the S&P 500 before the open of trading on June 21. The moves are part of a shake-up meant to ensure S&P’s various indexes are more representative of their intended market-capitalization ranges, according to a news release by the S&P Dow Jones Indices from Friday.