Hyster-Yale, Inc. was removed from several prominent Russell Growth Indices, including the Russell 2000 Growth Index, Russell Small Cap Comp Growth Index, Russell 2500 Growth Index, Russell 3000 Growth Index, Russell 3000E Growth Index, and Russell Microcap Growth Index.
This reclassification indicates a shift in how FTSE Russell categorizes Hyster-Yale based on its market capitalization and growth characteristics. Such changes are part of the annual reconstitution process for these widely followed indices.
The exclusion from these indices can lead to adjustments in portfolios of passive investment funds and exchange-traded funds that track these benchmarks. This often results in selling pressure on the affected stock as funds rebalance their holdings to align with the new index composition.
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