Business
NewtekOne, Inc. Joins the Russell 3000® and Russell 2000® Indexes
BOCA RATON, Fla., June 26, 2023 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (Nasdaq: NEWT), announced today that it has joined the broad-market Russell 3000 Index and
About this update from Newtekone, Inc.
[{"type":"text","content":"BOCA RATON, Fla., June 26, 2023 (GLOBE NEWSWIRE) -- NewtekOne, Inc. (Nasdaq: NEWT), announced today that it has joined the broad-market Russell 3000 Index and the small-cap Russell 2000® Index following the conclusion of the Russell indexes annual reconstitution for 2023, effective upon today’s US market open. The annual Russell indexes reconstitution captured the 4,000 largest US stocks as of April 28, 2023 ranking them by total market capitalization. Membership in the US all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000 Index or small-cap Russell 2000 Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes. Barry Sloane, Chairman, President and Chief Executive Officer of NewtekOne, Inc. said, “We are pleased with our inclusion in both the Russell 3000 Index and the Russell 2000 Index; inclusion in these indexes can create broader exposure to a larger audience of potential institutional investors for NewtekOne. Our January 2023 transformation to a financial holding company from a business development company allows us to be eligible for inclusion in these indexes, and with today’s inclusion in these indexes we are looking forward to increased recognition by the institutional investment community and the potential for further diversification of our shareholder base. Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies, and, as such, we believe our inclusion can bolster our ability to communicate the NewtekOne story as a financial holding company that provides a wide range of business and financial solutions to small- and medium-sized business.” Approximately $12.1 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider. For more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website. About NewtekOne, Inc. NewtekOne®, Your Business Solutions Company®, is a financial holding company, which along with its bank and non-bank consolidated subsidiaries, ...