(Reuters) - Global index publisher FTSE Russell said on Tuesday an annual reconstitution of its indexes would take place in late June, the third rebalancing since the onset of the COVID-19 pandemic.
The rebalancing for this year will begin on May 6, with eligibility for the reconstitution determined from constituent market capitalization, FTSE Russell said.
It said the U.S. equity markets would open with the newly reconstituted Russell U.S. indexes on June 27. The annual event often results in the highest volume trading day of the year.
On the last Friday every June, FTSE Russell refreshes the components in its range of indexes, such as the Russell 2000 index of small-cap stocks and Russell 1000 index of large-cap names. Together, they make up the Russell 3000 index.
There are also style indexes such as the Russell 1000 growth and Russell 2000 value.