Business

PCTEL added to Russell 3000 index

Posted June 29, 2020 1:00 am

BLOOMINGDALE - Wireless technology company PCTEL has been its addition to the broad-market Russell 3000 Index and small-cap Russell 2000 Index.

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. The Russell US Indexes are widely used by investment managers and institutional investors for passive funds and investment products and as bench marks for active investment strategies. Approximately $9 trillion in assets are bench marked against Russell US Indexes. Russell US Indexes are part of FTSE Russell's suite of index offerings.

"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."

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