“6:40p ET 6/24/2022 - Globe Newswire
Clover Health Set to Join Russell 3000(R) Index
EQNX::TICKER_START (NASDAQ:CLOV), EQNX::TICKER_END Clover Health Investments, Corp. (NASDAQ: CLOV) ("Clover," "Clover Health" or the "Company"), a physician enablement company committed to improving health equity for seniors, is set to be added as a member of the broad-market Russell 3000(R) Index, effective after the US market opens on June 27, 2022 as part of the 2022 Russell indexes reconstitution, according to a preliminary list of additions posted on June 3, 2022.
Annual reconstitution of the Russell indexes captures the 4,000 largest US stocks as of May 6, 2022, ranking them by total market capitalization. Membership in the Russell 3000(R) Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000(R) Index or small-cap Russell 2000(R) 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.
"This is another significant milestone for Clover Health as a public company on our mission to improve every life," said Vivek Garipalli, CEO of Clover. "We welcome the enhanced exposure and visibility provided by our inclusion in the index as a way to broaden awareness and engagement within the investment community as we execute upon our strategy."
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.
For more information on the Russell 3000(R) Index and the Russell indexes reconstitution, go to the "Russell Reconstitution" section on the FTSE Russell website.
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my posts are always theory and not financial advice
