VOXX International Corp. is set to join the broad-market Russell 3000 Index at the conclusion of the Russell indexes annual reconstitution, effective after the U.S. market opens on June 26.
Annual Russell indexes reconstitution captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. Membership in the US all-cap Russell 3000 Index, 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.
FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.
“We are pleased to have been added to the Russell 3000 Index as we believe it will help expand awareness of our Company and lead to greater liquidity in our shares,” said John Shalam and Pat Lavelle, the respective p resident and CEO of VOXX International Corp. “We are building momentum moving into Fiscal 2018 and look forward to reporting on our progress throughout the year. Our Board of Directors, senior management and all VOXX employees remain committed to driving increased value for our shareholders.”
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $8.4 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.