Seven Washington companies will find a new home on he Russell 3000 Index later this month.
Russell Investments annually recalibrates the index. According to Rolf Agather, head of index research and innovation at Russell, the annual update “is a key feature of truly representative benchmarks” and ensures ”that stocks are moved into the right ‘buckets’ to truly represent small-cap, midcap, large-cap and microcap stocks. It also serves as a clear measure of the shifts in relative valuations of value and growth stocks over the past year.”
The seven additions include the parents of Walla Walla-based Banner Bank (BANRD) and Spokane-based Sterling Financial (STSA); plus three King County biotechnology firms, Cell Therapeutics (CTICD), Oncothyreon (ONTY) and Oncogenex Pharmas (OGXI); one materials and processing firm, Revett Minerals of Spokane Valley (RVM); and the semiconductor firm Emagin Corp. (EMAN) of Belloevue.
The final membership lists for the Russell 3000, 2000 and 1000 Indexes will be posted June 27, according to a company release this week.
For a look at the full list of changes to Russell indexes, click here.