Benzinga | Jun 21, 2021 09:31AM EDT

Harbor Custom Development Announces Inclusion in Russell Microcap Index Starting June 25

Harbor Custom Development, Inc. (NASDAQ:HCDI, HCDIP, HCDIW))))) ("Harbor," "Harbor Custom Homes(r)," or the "Company"), an innovative and market leading real estate company involved in all aspects of the land development cycle, today announced that it will be added to the Russell Microcap(r) Index effective at the close of trading on June 25, 2021, based on a preliminary list of additions initially made public on June 4, 2021.

"Inclusion in the Russell Microcap(r) Index is an important achievement and serves as a testament to the significant progress we've made as a company. We believe that membership in the Russel Microcap(r) Index will provide our shares with greater visibility and recognition within the financial community. We look forward to introducing a wider institutional audience to our platform and growth story. We anticipate continued execution on our expansion strategy in the second half of the year leading to long-term value creation," commented Sterling Griffin, President and CEO of Harbor Custom Development, Inc.

Indexes benchmarked by the FTSE Russell, a global leader in indexes, data, and analytics, are widely used by investment managers and institutional investors for funds and as benchmarks for active investing strategies. Approximately $10.6 trillion in assets are benchmarked against the Russell U.S. Indexes.

Membership in the well-known Russell Indexes(r) brings with it numerous benefits including the automatic insertion into the appropriate growth and value style indexes. This inclusion remains in place for one year. FTSE Russell traditionally determines the membership for its Russell Indexes(r) by objective, market-capitalization rankings, and style attributes.