The Dixie Group was added to the Russell 3000 Index and Russell 2000 Index when Russell Investments reconstituted its comprehensive set of U.S. and global equity indexes on June 27.
“We expect our inclusion will raise our profile and generate greater interest in our stock among retail and institutional investors," said Daniel Frierson, The Dixie Group’s chairman and chief executive officer.
Russell indexes are widely used by investment managers and institutional investors for both index funds and as benchmarks for passive and active investment strategies, according to Frierson. In the institutional marketplace, approximately 98% of the U.S. equity markets are benchmarked by the Russell 3000, representing approximately $4 trillion in assets. Dixie will hold its membership until Russell reconstitutes its indexes in June 2015.
The annual reconstitution of the Russell 3000 captures the 3,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. The largest 1,000 companies in this ranking comprise the Russell 1000 and the next 2,000 companies become the Russell 2000.
The Russell 3000 also serves as the U.S. component to the Russell Global Index, which Russell launched in 2007.
For more information, visit thedixiegroup.com.