S&P SmallCap 600 in Focus: BPFH DAKT

The index--which tracks stocks with a market capitalization between $300 million and $2 billion--slipped 0.40 points to 387.75.

Small-cap companies make up about 3 percent of the total U.S. securities market, but are often cited as good investments due to their low valuations and potential to grow into big-cap stocks.

Boston Private Financial fell 76 cents, or 8.3 percent, to $8.36. On Wednesday, the private banking and investment-management firm said in a regulatory filing that it is reviewing its capital levels and may raise money depending on its performance in the second quarter.

Regional bank Independent Bank Corp. shed 42 cents, or 6.8 percent, to $5.63.

NATCO Group Inc., which makes oil and gas production equipment, lost $2.68, or 5.3 percent, to $47.66 as the price of oil wavered Wednesday, losing as much as $3 a barrel after giving up $3.34 on Tuesday.

The top gainer on the index was Daktronics Inc. after the visual displays maker said its fourth-quarter earnings leapt 62 percent to $5.7 million, or 14 cents per share, cruising past Wall Street estimates. Shares surged $2.21, or 13.4 percent, to $18.76.

Human-resources company Gevity HR Inc. climbed 81 cents, or 12.3 percent, to $7.39.

Trucking and transportation company Forward Air Corp. advanced $2.81, or 8.3 percent, to $36.84. On Wednesday, a Merrill Lynch analyst upgraded the company to "Buy" from "Neutral" in a note to clients.