XL Fleet Corp. (NYSE: XL), a provider of fleet electrification solutions, has been added to the Russell 3000 Index and the U.S. Small Cap Russell 2000 Index effective after the U.S. markets opened on June 28, the company announced in a press release.
The annual Russell indexes reconstitution captures the 4,000 largest U.S. stocks as of May 7, 2021, ranking them by total market capitalization. Membership in the U.S. all-cap Russell 3000 Index and Russell 2000 Index remains in place for one year.
“This exciting milestone exemplifies the success we have achieved to date and highlights the significant ongoing growth opportunities ahead of us in helping to electrify the commercial fleet industry,” said Dimitri Kazarinoff, CEO of XL Fleet, in the release. “I am look forward to the enhanced investor visibility that we expect from our inclusion in Russell’s world-class market index.”
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. About $10.6 trillion in assets are benchmarked against Russell’s U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider.
Russell indexes and reconstitution information: FTSE Russell website.