MIDDLEFIELD, Ohio, June 22, 2020 (GLOBE NEWSWIRE) -- Middlefield Banc Corp. (NASDAQ:MBCN) is set to join the broad-market Russell 3000® Index at the conclusion of the 2020 Russell indexes annual reconstitution, effective after the U.S. market opens on June 29.
“Inclusion in the Russell 3000® is an important milestone for Middlefield, and reflects the success of our long-term strategic plan,” stated Thomas G. Caldwell, Middlefield’s President and Chief Executive Officer. “From December 31, 2009 to May 31, 2020, $100 invested in Middlefield’s stock has achieved a total return of $277 compared to $205 for the Nasdaq Bank Index. We believe our awareness and exposure within the investment community will increase as a member of the Russell 3000® and we look forward to continue pursuing strategies that create long-term value for our shareholders.”
Annual Russell indexes reconstitution captures the 4,000 largest US stocks as of May 8, ranking them by total market capitalization. Membership in the US all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or 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-capitalization rankings and style attributes.
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.
For more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.