ROANOKE, Va.--(BUSINESS WIRE)--Luna Innovations Incorporated (NASDAQ:LUNA), a leader in optical technology, today announced that it is set to join the Russell® 3000 Index at the conclusion of the 2020 Russell indexes annual reconstitution, effective after the U.S. market opens on June 29, according to a preliminary list of additions posted in June 2020. For Luna, membership in the broad-market Russell 3000® Index, which remains in place for one year, means automatic inclusion in the U.S. small-cap Russell 2000® Index.
“Inclusion into the Russell 2000® and Russell 3000® Indexes is a milestone for us as an organization, and we are pleased to be included,” said Scott Graeff, President and CEO of Luna Innovations. “Being included in these important indexes will help to strengthen overall awareness of Luna within the financial community, and it underscores the significant progress we’ve made as an organization, by focusing sharply on executing our long-term strategy and driving strong shareholder value creation. We will continue the hard work that we’ve begun, serving our customers with excellence, creating a great place for our colleagues to work, and delivering strong growth to our investors.”
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $9 trillion in assets are benchmarked against Russell’s U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider. For more information on the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.
Luna Innovations, Incorporated (www.lunainc.com) is a leader in optical technology, providing unique capabilities in high-performance, fiber optic-based, test products for the telecommunications industry and distributed fiber optic-based sensing for the aerospace and automotive industries. Luna is organized into two business segments, which work closely together to turn ideas into products: a Technology Development segment and a Products and Licensing segment. Luna’s business model is designed to accelerate the process of bringing new and innovative technologies to market.