TeleCommunication Systems Inc. in Annapolis has been added to the Russell 2000 stock index.
The Russell 2000, compiled by Russell Investments, is an index of the 2,000 smallest companies in the Russell 3000 as measured by market capitalization. It serves as a benchmark to measure how mutual funds that invest in small-cap stocks perform.
“Joining the Russell 2000 Index represents an important milestone for TCS that we expect will increase awareness of our recent accomplishments,” TeleCommunication Systems CEO Maurice B. Tosé said.
Market capitalization is the product of a company’s stock price multiplied by the number of shares outstanding. TeleCommunication Systems (NASDAQ: TSYS) has a market capitalization of $143.4 million.
The Russell 2000 added TeleComnunication Systems to its index after the June 28 market close.
TeleCommunication Systems makes secure voice and data communications networks for the military, and for government and commercial users.
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