BOSTON--(BUSINESS WIRE)--Satcon (NASDAQ CM: SATC), a leading provider of utility scale distributed power solutions for the renewable energy market, announced today that it has been added to the Russell 3000® Index following the Russell Investment Group’s reconstitution of its family of U.S. indices on June 26, 2009.
Annual reconstitution of Russell’s U.S. indexes captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. Membership in the Russell 3000, 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. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes. The Russell 3000 also serves as the U.S. component to the Russell Global Index, which Russell launched in 2007.
“We are very pleased to have been included in this year’s reconstitution of Russell Indexes as it will generate greater interest in our stock among institutional investors,” said Steve Rhoades, President and Chief Executive Officer of Satcon. “The company has been very focused on building shareholder value and driving performance of our renewable energy solutions business, and inclusion in this credible global equity index is a clear indication of our progress.”
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. Russell estimates that $4.4 trillion in assets currently are benchmarked to their indexes. More information on the Russell 3000 and other Russell Indexes is available at http://www.russell.com.
Tuesday, June 30, 2009
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