Hyliion Set to Join Russell 3000 Index
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Electrified powertrain company Hyliion Holdings Corp. announced it is set to join the broad-market Russell 3000 Index at the conclusion of the 2021 Russell indexes annual reconstitution.
This will be effective after the U.S. market opens on June 28, according to the Austin, Texas-based company.
“As Hyliion matures and the market’s confidence in our company grows, we are pleased to see our inclusion into a large and well-respected benchmark like the Russell 2000 and 3000 indexes. We look forward to interacting more with active institutional investors that manage to the various Russell index benchmarks,” Hyliion CEO and founder Thomas Healy said in a release.
Annual Russell indexes reconstitution captures the 4,000 largest U.S. stocks as of May 7, ranking them by total market capitalization. Membership in the U.S. all-cap Russell 3000 Index, which remains in place for one year, means automatic inclusion in the 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, Hyliion noted.
FTSE Russell is a wholly owned subsidiary of London Stock Exchange Group, and is a unit of the information services division. — Transport Topics
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