Veeco Instruments Inc. was dropped from several Russell Growth Indices, including the Russell 2000 Growth Index, Russell 3000 Growth Index, Russell 2500 Growth Index, Russell 3000E Growth Index, and Russell 2000 Growth-Defensive Index. The company was also removed from the Russell Small Cap Comp Growth Index.
These changes reflect the annual rebalancing of the Russell indices, which can impact a company's inclusion in various investment funds. Removal from these indices means that passive funds tracking these benchmarks will no longer hold Veeco shares, potentially leading to selling pressure.
The exclusion from multiple growth-oriented indices may lead to reduced institutional investor interest and potential shifts in fund allocations. This event is a reclassification based on market capitalization and growth characteristics, rather than a direct operational change by Veeco.
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