Index funds loaded up on Bank of New York Co. stock last week in the days before it was added to the Standard & Poor's 500.

The bank was added to the list as scheduled late Thursday. Volume topped seven million shares that day - almost 14 times average for the New York money-center. The price rose $1.625, to $33.50.

There are now 27 banks, one credit card company, and three thrifts on the S&P 500. The only money-center not on the list is Republic New York Corp.

Bank of New York had been a component in the S&P midcap 400. It was taken off that list Thursday and moved to S&P's major regional banks industry group.

S&P emphasized that deletions and additions to the index do not reflect an opinion on the investment merits of a company.

On the 500 list, the bank displaced Maxus Energy, which is being acquired by an Argentine oil company.

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