SAN MATEO, Calif., April 1, 2013 (GLOBE NEWSWIRE) -- SolarCity (Nasdaq:SCTY) today announced that it has been added to the Russell 2000®, Russell 3000®, and Russell Global® Indexes, following Russell Investments' first quarter IPO additions to its comprehensive set of global equity indexes.
Membership in the Russell 2000® Index, which remains in place for one year, includes automatic inclusion into the broader Russell 3000® Index as well as the appropriate growth and style indexes. The Russell 2000® Index measures the performance of the small-cap segment of the U.S. equity universe and is a subset of the Russell 3000® Index, representing approximately 10% of the total market capitalization of that index.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. In the institutional marketplace, an industry-leading $3.9 trillion in assets currently are benchmarked to them. Russell determines membership for its equity indexes primarily by objective, market capitalization rankings, and style attributes.
For information on Russell's IPO additions process and to see the lists of IPOs for the current and previous quarters, go to http://www.russell.com/indexes/tools-resources/initial-public-offerings.asp.
About SolarCity
SolarCity® (Nasdaq:SCTY) provides clean energy. The company has disrupted the century-old energy industry by providing renewable electricity directly to homeowners, businesses and government organizations for less than they spend on utility bills. SolarCity gives customers control of their energy costs to protect them from rising rates. The company offers solar power, energy efficiency and electric vehicle services, and makes clean energy easy by taking care of everything from design and permitting to monitoring and maintenance. SolarCity currently serves 14 states and signs a new customer every five minutes. Visit the company online at www.solarcity.com and follow the company on Facebook & Twitter.