Tennant Company was dropped from several prominent Russell indices, including the Russell 2000 Growth Index, Russell 2500 Growth Index, Russell 3000 Growth Index, Russell 3000E Growth Index, and Russell 2000 Growth-Defensive Index.
These changes in index inclusion are typically effective during annual rebalancing periods. Removal from these indices can lead to adjustments in institutional portfolios that track these benchmarks.
The reclassification may result in reduced passive investment flows into Tennant's stock from funds that are mandated to hold constituents of these growth-focused indices.
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