Diamondback Energy Added to Russell 2000, 3000 Indices
Diamondback Energy (NASDAQ: FANG) announced today that it has been added to the Russell 3000 Index and the Russell 2000 Index, effective December 24, 2012.
In addition to Russell's annual reconstitution that takes place in early June of each year, eligible initial public offerings (IPOs) are added on a quarterly basis. Fourth quarter additions include those companies that completed IPOs during September 1 – November 30, 2012. Diamondback Energy completed its initial public offering on October 17, 2012.
"We are pleased to have been added to the Russell 2000 and 3000 Indexes," commented Travis Stice, Chief Executive Officer of Diamondback Energy. "We believe that our inclusion in these well-followed indexes will provide greater visibility of Diamondback and an opportunity to increase liquidity for our stock."
Russell Investments (Russell) is a global asset manager and one of only a few firms that offers actively managed multi-asset portfolios and services that include advice, investments and implementation. Working with institutional investors, financial advisors and individuals, Russell's core capabilities extend across capital market insights, manager research, portfolio construction, portfolio implementation and indexes.
Russell has about $159 billion in assets under management (as of 9/30/2012) and works