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Thursday, September 17, 2009

Russell 3000 Index Adds 10 IPOs

By Kathryn Elizabeth Tuggle

FOXBusiness

The Russell 3000 Index, an index that measures the performance of the 3,000 largest U.S.-based companies, announced on Thursday that it will add 10 IPOs to its index after the close of markets on September 30.

The index, which represents around 98% of the U.S. equity market that can be invested, will add U.S.-based IPOs, including PennyMac Mortgage Investment Trust (PMT), Starwood Property Trust (STWD), Cypress Sharpridge Investments (CYS), Government Properties Income Trust (GOV), Invesco Mortgage Capital (IVR), LogMeIn (LOGM), Territorial Bancorp (TBNK), Cumberland Pharmaceuticals (CPIX), and Medidata Solutions (MDSO), according to Russell.

The Russell 3000 exists independently of the Russell 2000 index which measures small cap stocks, and the Russell Global, which measures international companies. All Russell Indices are revised annually.

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