Newport-based Pangaea Logistics joins Russell 3000 Index

NEWPORT – Pangaea Logistics Solutions Ltd. has been selected by the Financial Times Stock Exchange to join the Russell 3000 Index.

“Pangaea is honored to join the Russell 3000 Index,” Pangaea CEO Mark Filanowski said in a June 26 news release. “Our integrated shipping logistics model continues to deliver consistent, above-market returns, contributing to long-term value creation for our shareholders.

“Our inclusion within the index is an important milestone for our entire team, one that will serve to build awareness around the Pangaea growth story, while increasing our exposure to new investor audiences,” Filanowski added.

The Russell 3000 Index measures the performance of the largest 3,000 U.S. companies and represents 96% of the investible U.S. equity market.

- Advertisement -

The stock exchange determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes. The Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies.

Approximately $12.1 trillion in assets are benchmarked against Russell’s U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider, according to the release.