The Russell 3000 index added 40 recent IPOs after the close of the U.S. equity markets today. The IPOs include 15 financial services firms, seven REITs and five technology companies. Three of the companies - Cogent Inc., Dreamworks Animation and Nalco Holding Co. - will also jump to the Russell 1000 index. The others, including Build-A-Bear Workshop and Beacon Roofing Supply, will join the Russell 2000 index.
The additions are part of a plan Russell announced in August to add IPOs to its indexes quarterly. "You're getting these IPOs as they become available so it makes the indexes more representative (of the market)," said Lori Richards, senior products manager, Russell indexes.