Alpha Pro Tech, manufacturer of products meant to protect people, products and environments, such as disposable protective apparel and building products, is all set to be listed in the broad-market Russell 3000 and Russell 2000 Indexes at the conclusion of the 2020 Russell indexes annual reconstitution. This will provide increased visibility to the company.
This becomes effective after the US equity market opens on June 29, 2020, and has been disclosed in a preliminary list of additions posted on June 5, 2020. The company is currently included in the Russell Microcap Index.
The 2020 reconstitution of the Russell indexes captures the 4,000 largest US stocks as of May 8, 2020, ranking them by total market capitalisation. Membership in the US all-cap Russell 3000 Index, which remains in place for one year, means automatic inclusion in the 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-capitalisation rankings and style attributes.
Lloyd Hoffman, president and chief executive officer of Alpha Pro Tech, commented, “Moving up from the Russell Microcap Index to the widely referenced small-cap indexes reflects the significant growth and improving financial performance that we have delivered over the past year. We welcome the increased visibility that the move will provide and look forward to communicating our story to a broader audience of investors.”
The Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $9 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.