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Ponce Financial Group, Inc. (the "Company") (NASDAQ:PDLB), a minority managed institution and a Community Development Financial Institution serving the New York City area since 1960, today announced it was added to the Russell 3000® Index, effective after the U.S. market closed on June 23, 2023, as part of the 2023 Russell indexes reconstitution. Based upon its membership in the Russell 3000® Index, the Company will also become a member of the small-cap Russell 2000® Index.
Carlos P. Naudon, President and CEO of Ponce Financial Group, Inc., commented, "It is an honor to rejoin the Russell indexes which we trust will increase the exposure of, and liquidity in our stock. We look forward to our continued pursuit of our long-term strategic plan, and enhancing the awareness of our company as an attractive mission-driven investment."
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12.1 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® and the Russell indexes reconstitution, go to the FTSE Russell website.
Posted In: PDLB
