BPZ Joins Russell 3000 Index
BPZ Energy, Inc. has been selected to be included in the broad-market Russell 3000 Index. This inclusion was effective immediately prior to the close of trading on Friday, June 22, 2007, when the Russell Investment Group reconstituted its comprehensive set of U.S. and global equity indexes. Over 1.9 million shares of BPZ Energy common stock traded on Friday and the high volume was attributed to the rebalancing of the Russell 3000.
Membership in the Russell 3000, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000 Index or small-cap Russell 2000 as well as the appropriate growth and value style indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.
Manolo Zuniga, President and CEO of BPZ Energy, said; "We are very pleased to have earned a place on this prestigious index and it is another milestone in our growth as a public company." Mr. Zuniga went on to say; "Russell's unbiased, market-driven analyses for determining eligible stocks for these well-known indexes will give BPZ Energy wider exposure to the investment community, allowing us to reach out to constituencies who are not yet familiar with our story, and thus broaden our shareholder base."
The Russell 3000 serves as the U.S. component to the Russell Global Index, which was launched earlier this year.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. An industry-leading $4 trillion in assets currently are benchmarked to them.
Annual reconstitution of Russell's U.S. indexes 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 comprise the Russell 1000 and the next 2,000 companies become the Russell 2000. These investment tools originated from Russell's multi-manager investment business in the early 1980s when the company saw the need for a more objective, market-driven set of benchmarks in order to evaluate outside investment managers.
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