July 11, 2006 > Pegasus Wireless Corporation Joins Influential Russell 2000 Index
Pegasus Wireless Corporation Joins Influential Russell 2000 Index
Fremont (BUSINESS WIRE)--July 5 - Pegasus Wireless Corporation (Nasdaq:PGWC), a leading provider of advanced wireless solutions, proudly announced that it has officially been added to the Russell 2000 Index. The company was on a list of preliminary additions to the Russell 3000 Index that was posted on www.russell.com on Friday, June 23, and was officially added to the Russell 2000 on July 3.
Membership in the Russell 3000, which remains in place for one year, means for Pegasus automatic inclusion in the small-cap Russell 2000 Index as well as the appropriate growth and style indexes. Russell determines membership for its equity indexes primarily by objective, market capitalization rankings and style attributes.
These indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. An industry-leading $3.8 trillion in assets currently are benchmarked to them. Investment managers who oversee these funds purchase shares of member stocks according to that company's weighting in the particular index.
Annual reconstitution of Russell indexes captures the 3,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization to create the Russell 3000. The largest 1,000 companies in the ranking comprise the Russell 1000 while the remaining 2,000 companies become the widely used Russell 2000. These investment tools originated from Russell's multi-manager investment business in the early 1980s when the company saw the need for a more objective, market-driven set of benchmarks in order to evaluate outside investment managers.
Pegasus Wireless Corporation is a leading provider of advanced wireless solutions. For more information visit www.pegasuswirelesscorp.com.