Reservoir Added to Membership of the Russell 2000® Index
Inclusion in leading small-cap index expected to support daily trading and investor visibility
NEW YORK, July 05, 2022 (GLOBE NEWSWIRE) -- Reservoir Media, Inc. (NASDAQ: RSVR), an award-winning independent music company today announced that Reservoir has been added as a member of the US small-cap Russell 2000® Index, effective after the US market opened on June 27, as part of the 2022 Russell indexes reconstitution. Membership in the Russell 2000® Index, which remains in place for one year, is based on membership in the broad-market Russell 3000® Index. The stock also was automatically added to the appropriate growth and value indexes.
“We are pleased to be added to the Russell indexes as we approach our first full year as a public company,” said Golnar Khosrowshahi, Founder and Chief Executive Officer of Reservoir. She continued, “This is a significant achievement for the Company, showcasing Reservoir’s growth strategy, and will ultimately increase awareness of our business as we continue to execute on our strategic initiatives.”
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $12 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 2000® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.
Reservoir is an independent music company based in New York City and with offices in Los Angeles, Nashville, Toronto, London, and Abu Dhabi. Reservoir is the first female-founded and led publicly traded independent music company in the U.S. Founded as a family-owned music publisher in 2007, Reservoir has grown to represent over 140,000 copyrights and 36,000 master recordings with titles dating as far back as 1900 and hundreds of #1 releases worldwide. Reservoir holds a regular Top 10 U.S. Market Share according to Billboard’s Publishers Quarterly, was twice named Publisher of the Year by Music Business Worldwide’s The A&R Awards and won Independent Publisher of the Year at the 2020 and 2022 Music Week Awards.
Reservoir also represents a multitude of recorded music through Chrysalis Records, Tommy Boy Records, and Philly Groove Records and manages artists through its ventures with Blue Raincoat Music and Big Life Management.
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Alpha IR Group
Alec Buchmelter or Alec Steinberg
Source: Reservoir Media, Inc.