Evolv Technology , a global leader in weapons detection security screening, announced that it is set to join the Russell 3000 Index at the conclusion of the 2022 Russell indexes annual reconstitution, effective after the stock market opens on June 27, 2022, according to a preliminary list of additions posted June 3, 2022.
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“As we continue our relentless pursuit to make the world safer for people to work, learn, and play, we believe our inclusion in the Russell 3000 Index will increase our exposure to institutional investors who rely on the Russell indexes in the development and tracking of their portfolios.”
Annual Russell indexes reconstitution captures the 4,000 largest US stocks as of May 6, 2022, 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.
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“The inclusion of Evolv Technology in the Russell 3000 Index, which represents the largest public companies in the United States as measured by market capitalization, is a significant milestone in our growth,” said Peter George, President and Chief Executive Officer of Evolv Technology. “As we continue our relentless pursuit to make the world safer for people to work, learn, and play, we believe our inclusion in the Russell 3000 Index will increase our exposure to institutional investors who rely on the Russell indexes in the development and tracking of their portfolios.”
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.
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