Voxx International Corp., a distributor of audio products for the automotive and consumer markets, said in a release it will join the broad-market Russell 3000 Index on June 26.
Russell indexes reviews the 4,000 largest stocks in the country each May and ranks them according to market capitalization. Membership in the Russell 3000 Index lasts one year.
"We are pleased to have been added to the Russell 3000 Index as we believe it will help expand awareness of our company and lead to greater liquidity in our shares," Pat Lavelle, president and CEO of Voxx, and board Chairman John Shalam said in the release. "We are building momentum moving into fiscal 2018 and look forward to reporting on our progress throughout the year. Our board of directors, senior management and all Voxx employees remain committed to driving increased value for our shareholders."
Russell indexes are studied by investment managers and investors to determine strategies.