Dry bulk shipping companies Safe Bulkers and Eagle Bulk Shipping have been added to the Russell 3000 Index as part of Russell indexes annual reconstitution.
“We are very pleased to be included in the Russell 3000 Index as it provides us with increased visibility within the investment community,” Loukas Barmparis, President of Safe Bulkers, said.
Membership in the Russell 3000® Index 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. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.
The Russell US Indexes are designed as the building blocks of a broad range of financial products, such as index tracking funds, derivatives and Exchange Traded Funds (ETFs), as well as being performance benchmarks for active investment strategies. Approximately USD 8.5 trillion in assets are benchmarked to Russell’s US indexes.