Ponce Financial Group, Inc. Announces That It Was Added To The Russell 3000 Index
Portfolio Pulse from Happy Mohamed
Ponce Financial Group, Inc. (NASDAQ:PDLB) has been added to the Russell 3000 Index, effective after the U.S. market closed on June 23, 2023. The company will also become a member of the small-cap Russell 2000 Index. The inclusion is expected to increase the exposure and liquidity of PDLB's stock.
June 28, 2023 | 5:32 pm
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Ponce Financial Group's inclusion in the Russell 3000 and Russell 2000 Indexes is expected to increase the exposure and liquidity of its stock, potentially leading to increased demand and upward price pressure.
Inclusion in major indexes like the Russell 3000 and Russell 2000 often leads to increased exposure and liquidity for a company's stock. This is because these indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. As a result, stocks included in these indexes often see increased demand, which can put upward pressure on their price.
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