Business News
X-Rite Added to Russell 2000 and 3000 Indices
Monday 06. July 2009 - X-Rite, Incorporated (NASDAQ: XRIT) today announced that it has been added to the Russell 2000 and Russell 3000 Indices effective after the market close on June 26, 2009.
Annual reconstitution of Russells U.S. indexes captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. Membership in the Russell 3000, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000 Index or small-cap Russell 2000 Index as well as the appropriate growth and value style indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.
Bradley J. Freiburger, Interim Chief Financial Officer for X-Rite, said, “We are very pleased with the Company’s inclusion in these widely-recognized indices. This should provide greater stock visibility among the investment community and create new opportunities to promote our Company, its products, and future growth opportunities.”
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies.