BLOOMINGDALE, Ill.--(BUSINESS WIRE)--Jun. 29, 2020--
PCTEL, Inc. (Nasdaq: PCTI), a leading global provider of wireless technology, announced its addition to the broad-market Russell 3000®Index and small-cap Russell 2000® Index, effective after the US market opens on June 29, 2020, following the 2020 Russell US Indexes reconstitution.
Annual reconstitution of the Russell US Indexes captures the 4,000 largest US stocks as of May 8, ranking them by total market capitalization. Inclusion in the 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 US Indexes primarily by objective, market-capitalization rankings and style attributes.
“Being added to the Russell 3000 Index is an important milestone for PCTEL,” said Kevin McGowan, PCTEL’s Chief Financial Officer. “Inclusion in the Russell Indexes will increase the awareness of our stock within the investment community.”
The Russell US Indexes are widely used by investment managers and institutional investors for passive funds and investment products and as benchmarks for active investment strategies. Approximately $9 trillion in assets are benchmarked against Russell US Indexes. Russell US Indexes are part of FTSE Russell’s suite of index offerings.
For more information on the Russell 3000 Index and the Russell US Indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.
About FTSE Russell
FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally.
FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $16 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives.
A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering.
FTSE Russell is wholly owned by London Stock Exchange Group.
This press release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995 relating to, among other things, the impact of the company’s inclusion in the Russell 3000 Index. These statements are based on management’s current expectations, and actual results may differ materially from those projected as a result of certain risks and uncertainties, including uncertainties related to the impact of the spread of the COVID-19 virus and actions taken to address this spread, market conditions, economic factors (such as a pandemic-related recession, interest rate and currency exchange rate fluctuations), stock market fluctuations, customer demand for PCTEL’s products including demand from customers in China, growth and continuity in PCTEL’s defined market segments, and PCTEL’s ability to grow its wireless products business and create, protect, and implement new technologies and solutions. These and other risks and uncertainties are detailed in PCTEL'sSecurities and Exchange Commission filings. These forward-looking statements are made only as of the date hereof, and PCTEL disclaims any obligation to update or revise the information contained in any forward-looking statement, whether as a result of new information, future events, or otherwise.