Ocean Bio-Chem, Inc. (NASDAQ: OBCI), today announced that it has been added to the Russell Microcap Index. This follows the annual reconstitution of the comprehensive set of U.S. and global equity indexes produced by Russell Investments.
"Membership in the Russell Microcap Index means automatic inclusion in the appropriate growth and value style indexes," said Peter Dornau, Ocean Bio-Chem CEO and President. "Mr. Dornau continued, we expect to see an increase in demand and liquidity from index funds looking to replicate the new Russell weighting that should benefit OBCI shareholders. Membership is determined primarily by appropriate market capitalization rankings and value characteristics."
"The Russell Microcap Index measures the performance of the microcap segment of the U.S. equity market. It includes public companies listed on both the NYSE and NASDAQ with market caps ranging from $30 million to $884 million and provides a comprehensive and unbiased barometer for the microcap segment trading on national exchanges," Mr. Dornau said. "We are very pleased to be included in an index that is widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies."
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About Ocean Bio-Chem, Inc.:
Ocean Bio-Chem, Inc. (NASDAQ: OBCI), a leading manufacturer and distributor of appearance, performance, and maintenance products serving the marine, automotive, power sports, recreational vehicle and outdoor power equipment markets under the Star brite® Star Tron® and other trademarks within the United States of America and Canada. In addition, the Company produces private label formulations of many of its products for various customers and provides custom blending and packaging services for these and other products.