CLEARWATER, Fla. — Auto finance company Nicholas Financial recently announced it made it onto the Russell 2000 Index.

It was added to the index — which measures the performance of the small-cap segment of U.S. equity — during Russel Investment's annual reconstruction of U.S. indexes, which became effective on June 24.

While choosing membership for its equity indexes, Russell Investment takes into account company characteristics such as objectives, market-capitalization rankings, as well as style attributes. 

Nicholas Financial’s membership in the Russell 2000 Index remains valid for a year, and the company will be automatically included in the appropriate growth and value style indexes.

Moreover, just last year, the company was also included in the Russell Microcap Index for the first time.

Nicholas Financial stressed that Russell indexes are widely used by institutional investors for index funds and as benchmarks for both passive and active investment strategies.

Currently, $3.9 trillion in assets are benchmarked to the Russell 2000.