New Century Bancorp Added to Russell IndexPublished 5:24pm Monday, July 21, 2014
DUNN — New Century Bancorp, Inc. (NASDAQ: NCBC), the holding company for New Century Bank, reported that it has been added to the Russell Global, Russell 3000 and Russell 1000 stock market indexes.
The company was included in the three indexes after Russell completed its annual reconstitution of the indexes in June.
“New Century Bancorp is very pleased to be included in the Russell stock market indexes,” said William L. Hedgepeth II, New Century Bank president and CEO. “It is gratifying for the employees and shareholders of our company to be included in the Russell Indexes,” stated Hedgepeth. “Recognition by the financial community for our strong performance is a satisfying accomplishment.”
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for passive and active investment strategies. The annual reconstitution of the Russell
3000 captures the 3,000 largest U.S. stocks as of the end of May ranking them by total market capitalization. The largest 1,000 companies in this ranking make up the Russell 1000 and the next largest 2,000 companies comprise the Russell 2000. The Russell 3000 also serves as the U.S. component to the Russell Global Index.