Diversified Energy Company PLC (LON/NYSE: DEC) has announced that as part of the annual reconstitution of the Russell stock indexes, Diversified is to be included in the Russell 2000 Index effective at the open of US equity markets on Monday, July 1st, 2024 according to the preliminary list of additions posted on Friday, May 24th, 2024.
Rusty Hutson, Jr., CEO of Diversified Energy Company, commented:
“We are excited to join the Russell 2000Ò Index and increase our exposure to the US investment community, particularly following our solid first quarter results and the recent listing on the NYSE. The Russell 2000Ò Index is widely regarded as a bellwether of the US economy due to its focus on American small businesses, and our inclusion illustrates the Company’s continued financial strength and performance. This is an important milestone for Diversified, and we look forward to communicating with a broader audience of investors, which we expect will expand our shareholder base and enhance the trading liquidity in our stock.”
Russell Reconstitution
The annual Russell US Indexes reconstitution captures the 4,000 largest US stocks as of Tuesday, April 30th, ranking them by total market capitalization. Membership in the US all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000Ò Index or small-cap Russell 2000Ò Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings, and style attributes.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. According to the data as of the end of December 2023, about $10.5 trillion in assets are benchmarked against the Russell US indexes.
You can access reference information on the reconstitution process, including member additions and deletions, here: Russell Reconstitution | LSEG
