Salem Set to Join Russell 3000 Index
June 18, 2012
Salem announced yesterday that it will be joining the Russell 3000 when the Index reconstitues on June 25th.
Salem's Senior Vice President and Chief Financial Officer, Evan Masyr, said, "We are excited to be added to the Russell 3000 Index, as this will increase exposure of our equity at a time when we are growing our investor relations outreach." Salem is currently traded on the NASDAQ.
Annual reconstitution of Russell's 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.
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