Trump Media & Technology Group (DJT.O), opens new tab, which owns social media platform Truth Social, said on Monday it has been added to the Russell Indexes as part of their annual reconstitution.
The Russell Indexes include the Russell 1000 index of large-cap stocks (.RUI), opens new tab and the Russell 2000 index of small-cap names (.RUT), opens new tab, which together make up the Russell 3000 (.RUA), opens new tab index. In addition, there are style indexes such as the Russell 1000 growth (.RLG), opens new tab and Russell 2000 value (.RUJ), opens new tab.
Trump Media has been included in the Russell 1000 and Russell 3000 indexes, effective after the U.S. market closed on June 28. While some index providers choose to constantly refresh their indexes to keep a fixed amount of components in them, FTSE Russell only
reconstitutes once per year, with the exception of adding initial public offerings on a quarterly basis. This annual selection prompts fund managers and investors to adjust their portfolios to reflect the new weightings and components.
