(Updates with recent stock movement in the headline and first paragraph.)

International Seaways (INSW) shares were up over 10% in recent Tuesday trading after S&P Dow Jones Indices said late Monday the company will be included in the S&P SmallCap 600 starting Dec. 30.

The company will replace Consolidated Communications Holdings (CNSL) in the S&P SmallCap 600, effective before the opening of trading on Dec. 30, S&P Dow Jones Indices said.

Searchlight Capital Partners and British Columbia Investment Management are acquiring Consolidated Communications in a deal expected to be completed soon, the market research firm said.

Price: 37.25, Change: +3.47, Percent Change: +10.27