Multiband Corporation (NASDAQ: MBND), a leading Home Service Provider (HSP) for DIRECTV and the nation's largest DIRECTV Master System Operator (MSO) for Multiple Dwelling Units (MDUs), will join the Russell Microcap® Index when Russell Investments reconstitutes its family of U.S. indexes on June 24, according to a preliminary list of additions posted June 10 on www.russell.com/indexes. Membership in the Russell Microcap Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes. Jim Mandel, CEO of Multiband, commented, “Inclusion in the Russell Microcap Index is an important event for Multiband, and we believe it speaks to the progress we have made in executing our business. The addition of Multiband to the Russell Microcap Index will expose our stock to a wider audience of institutional investors.” Russell Indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. An industry-leading $3.9 trillion in institutional assets currently are benchmarked to them. Annual reconstitution of Russell Indexes captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization to create the Russell 3000® Index and Russell Microcap. These investment tools originated from Russell's multi-manager investment business in the early 1980s when the company saw the need for a more objective, market-driven set of benchmarks in order to evaluate outside investment managers. More information on the Russell Microcap and other Russell Indexes, including daily returns, is available at http://www.russell.com/Indexes/data/default.asp. About Russell Russell Investments provides strategic advice, world-class implementation, state-of-the-art performance benchmarks and a range of institutional-quality investment products. Russell has more than $161 billion in assets under management as of March 31 2011, and serves individual, institutional and advisor clients in more than 35 countries. Founded in 1936, Russell is a subsidiary of The Northwestern Mutual Life Insurance Company.
Shares of Multiband Corporation (Nasdaq:MBND) have taken a tremendous swing upward. The stock is trading at $3.46 as of 3:31 p.m. ET, 26.3% above Wednesday's closing price of $2.74. Volume is at 412,212, 2.9 times the daily average of 140,600.