Riverview Bancorp, Inc. was added to the Russell 3000 Index and Russell 2000 Index when Russell Investments reconstituted its comprehensive set of U.S. and global equity indexes on June 26.
The indexes are used by investment managers and institutional investors for both index funds and as benchmarks for passive and active investment strategies.
“We are pleased to be added to the Russell 2000, which reflects our continued positive momentum and efforts to increase shareholder value,” said Pat Sheaffer, Chairman and CEO of Riverview, in a press release. “We expect our inclusion will raise our profile and generate greater interest in our stock among institutional investors.”
Riverview will hold its membership until the indexes are reconstituted in June 2018. The annual reconstitution of the Russell 3000 captures the 3,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. The largest 1,000 companies in the ranking comprise the Russell 1000 and the next 2,000 companies become the Russell 2000.