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BioLabs joins Russell 3000
Published:June 14, 2011
Buffalo biotechnology firm Cleveland BioLabs is joining the Russell 3000 stock index.
Cleveland BioLabs will join the index of 3,000 U. S. companies June 27, becoming the 12th company based in the Buffalo Niagara region to be part of the broad-based index, which covers about 98 percent of the nation’s investable stocks.
Cleveland BioLabs is being added to the index as part of the benchmark’s annual “reconstitution” aimed at making it representative of the broad market.
Cleveland BioLabs joins Astronics, Columbus McKinnon, Computer Task Group, Financial Institutions, First Niagara Financial Group, Gibraltar Industries, Graham Corp.,M&TBank, Moog Inc., National Fuel Gas and Sovran Self Storage as members of the Russell 3000.
Russell Investments, the Seattlebased firm that maintains the index, said Monday it also will update its Russell 1000 larger company and Russell 2000 smaller company indexes June 27. The companies that are part of the Russell 3000 also are members of one of the two other indexes.