TBC shares will be part of stock market index
TBC Corp.'s shares will be included in the Russell 2000 stock market index "on a preliminary basis" beginning July 9, according to the company.
"More than $175 billion is invested in funds that rely on Russell's U.S. indexes as investment models," says Larry Day, CEO and president of TBC. "We believe inclusion in the Russell 2000 Index should increase investor interest in TBC and thereby enhance marketability of our shares."
TBC's stock price closed at $8.31 a share on NASDAQ on Monday. In the last 52 weeks, individual shares have sold for as low as $3.88 and as high as $8.60.
The Russell 2000 is a major stock market index published by Frank Russell Co. The firm calculates and publishes a family of 21 equity indexes in the United States that are regarded by some as important measures of stock market activity.