Credo Petroleum Joins Russell 3000 Index
Credo Petroleum was added to the broad-market Russell 3000® Index on June 26, 2009 when Russell Investments reconstituted its comprehensive set of U.S. and global equity indexes.
The Russell 3000® Index ranks the largest U.S. stocks based on total market capitalization. Membership in the Russell 3000 remains effective for one year along with inclusion in the Russell 2000® Index, as well as the appropriate growth and value style indexes. Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for investment strategies. According to Russell Investment Group, institutional investment professionals currently responsible for over $4.3 trillion in assets use Russell indexes to guide their portfolios.
James T. Huffman, Chief Executive Officer, said, "Inclusion in the Russell 3000 will significantly increase our institutional ownership. This is an important step toward improving the visibility of Credo's stock and generating greater awareness of our business within the investment community."