WHEELING, W.Va., June 29 /PRNewswire-FirstCall/ -- Wheeling Pittsburgh
Corporation (Nasdaq: WPSC) joined the Russell 3000 Index when the broad-market
index was reconstituted June 25. Membership in the Russell 3000 means
automatic inclusion in either the large-cap Russell 1000 or small-cap Russell
2000 Index.
Membership in Russell's 21 U.S. equity indexes is determined primarily by
market capitalization rankings and style attributes. Russell indexes are
widely used by managers for index funds and as benchmarks for both passive and
active investment strategies. More than $360 billion is invested in index
funds based on Russell's indexes and an additional $850 billion is benchmarked
to them. Investment managers who oversee these funds purchase shares of member
stocks according to the company's weighting in the particular index.
Annual reconstitution of the Russell indexes captures the 3,000 largest
U.S. stocks as of the end of May, ranking them by total market capitalization
to create the Russell 3000. The largest 1,000 companies in the ranking
comprise the Russell 1000 Index, while the remaining 2,000 companies become
the widely used Russell 2000 Index.
Wheeling-Pittsburgh Steel Corporation is a metal products company with
3,100 employees in facilities located in Steubenville, Mingo Junction,
Yorkville, and Martins Ferry, Ohio; Beech Bottom and Follansbee, West
Virginia; and Allenport, Pennsylvania. The company's Wheeling Corrugating
Division has 12 plants located throughout the United States.
SOURCE Wheeling-Pittsburgh Steel Corporation
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Related links:
http://www.wpsc.com
Company News On-Call:
http://www.prnewswire.com/comp/967451.html
CONTACT:
Jim Kosowski of Wheeling-Pittsburgh Steel
Corporation, +1-304-234-2440
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