Benzinga | Jun 21, 2021 09:04AM EDT

Infrastructure And Energy Alternatives To Be Added To Russell 3000 Index On June 28

Infrastructure and Energy Alternatives, Inc. (NASDAQ:IEA) ("IEA" or the "Company"), a leading infrastructure construction company with renewable energy and specialty civil expertise, today announced that the Company is set to join the broad-market Russell 3000(r) Index as part of this year's rebalance according to a preliminary list of additions posted on June 4, 2021. The change will become effective one week from today after the market opens on Monday, June 28, 2021.



FTSE Russell determines membership for its Russell indices based on objective, market-capitalization rankings and style attributes. This year's reconstitution captured the 4,000 largest U.S. stocks as of May 7th, ranking them by total market capitalization. Membership in the U.S. all-cap Russell 3000(r) Index, which remains in place for one year, provides 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. IEA will be added to the Russell 2000(r) Index as well.

"We are very pleased that IEA has been added to the Russell 3000 Index," said JP Roehm, IEA's President and Chief Executive Officer. "We anticipate our addition to the index will create increased awareness of the Company and our stock across the investment community."

Russell indices are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $10.6 trillion in assets are benchmarked against Russell's U.S. indices. Russell indices are part of FTSE Russell, a leading global index provider.

The "Russell Reconstitution" section on the FTSE Russell website provides information on the Russell 3000(r) Index and the Russell index reconstitution.