Sturm, Ruger & Company, Inc. will join the Russell 3000® Index when Russell Investments reconstitutes its U.S. and global equity indexes on June 26, according to a preliminary list of additions published on June 12.
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. The Russell 3000 also serves as the U.S. component to the Russell Global Index, which Russell launched in 2007.
Ruger CEO Michael O. Fifer commented, “We are very pleased to be included in the Russell 3000 Index, which reflects well on the Companys achievements over the past few years, and we are hopeful that it will broaden the Companys appeal to a wider spectrum of investors.”
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. An industry-leading $4 trillion in assets currently are benchmarked to them. These investment tools originated from Russells multi-manager investment business in the early 1980s when the company saw the need for a more objective, market-driven set of benchmarks in order to evaluate outside investment managers.