Intevac Set to Join Russell 2000 Index on June 29, 2020
Intevac, Inc. (Nasdaq: IVAC), a leading supplier of thin-film processing systems and digital night-vision technologies, announced today that the company is set to join the Russell 2000 Index and the Russell 3000 Index at the conclusion of this year’s reconstitution of the Russell stock indexes, effective upon the opening of the U.S. stock markets on Monday, June 29, 2020, according to a preliminary list of additions posted June 5, 2020.
“Inclusion in the Russell Indexes is an important milestone, which will increase the liquidity of our stock and overall awareness of Intevac within the investment community,” said Wendell Blonigan, president and chief executive officer. “We believe this inclusion will benefit our ability to deliver long-term shareholder value as we grow the company. With approximately $9 trillion in assets benchmarked against Russell’s US indexes, our return to the Russell 2000 will improve our exposure and appeal to institutional investors.”
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. The annual Russell reconstitution captures the 4,000 largest US stocks as of May 8, 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.
About FTSE Russell
FTSE Russell is a leading global index provider creating and managing a wide range of indexes, data and analytic solutions to meet client needs across asset classes, style and strategies. Covering 98% of the investable market, FTSE Russell indexes offer a true picture of global markets, combined with the specialist knowledge gained from developing local benchmarks around the world.
FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $16 trillion is currently benchmarked to FTSE Russell indexes worldwide. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create investment funds, ETFs, structured products and index-based derivatives. FTSE Russell indexes also provide clients with tools for asset allocation, investment strategy analysis and risk management.