AVANIR Pharmaceuticals Announces It Has Been Added to the Russell 3000(R) Index
Jun 29, 2009 1:00:00 PM
Copyright Business Wire 2009
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View Additional ProfilesALISO VIEJO, Calif.--(BUSINESS WIRE)-- AVANIR Pharmaceuticals, Inc. (NASDAQ: AVNR) announced that it has been added to the broad-market Russell 3000 Index, an investment tool comprised of 3,000 of the country's largest and most liquid stocks. Russell Investments reconstituted its Russell 3000 Index on June 26, 2009 with the 3,000 largest U.S. stocks by market capitalization as of the end of May.
AVANIR's membership in the Russell 3000, 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 indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and attributes.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. A listing on such indexes often increases a stock's price and liquidity, since index funds and related mutual funds must buy shares
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