BioVie Inc (NASDAQ:BIVI) has announced that it will be added as a member of the US small-cap Russell 2000 and Russell 3000 Indexes, effective after the US market opens on June 26, as part of the 2023 Russell indexes reconstitution.
The company noted that membership in the Russell 2000 Index, which remains in place for one year, is based on membership in the broad-market Russell 3000 Index. The stock also was automatically included in the appropriate growth and value indexes, it added.
The Russell Indexes collectively comprise 4,000 of the largest US stocks ranked by total market capitalization. FTSE Russell determines membership for its Russell indexes primarily by objective, market capitalization rankings and other attributes.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.
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