OTC Markets Group Inc. (OTCQX:OTCM) has announced the third quarter 2021 performance and quarterly rebalancing of the OTCQX and OTCQB indexes, including the OTCQX Canada Index and the OTCQX Dividend Index.
The OTCQX Composite Index, (.OTCQX) a benchmark for the overall OTCQX Best Market, was down 2.0% in the third quarter. Seventy-one new companies were added to the index, including Blackbird PLC; Cansortium Inc.; Giga Metals Corp; Nobility Homes, Inc. (OTCQX:NOBH); Solvay S.A.; Tidewater Inc., and White Gold Corp (TSX-V:WGO, OTCQX:WHGOF).. Fifty-two were removed from the index including Standard Lithium Ltd. which graduated to NYSE MKT and Nomad Royalty (TSX:NSR) Company Ltd. (NSR) which graduated to the NYSE. Vicinity Motor Corp. (TSX-V:VMC), Field Trip Health Ltd., CPI Card Group Inc., Orange County Bancorp, Inc., Cardiol Therapeutics (TSX:CRDL, NASDAQ:CRDL) Inc., VIQ Solutions Inc., Sono-Tek Corp., Bragg Gaming Group (TSX:BRAG, NASDAQ:BRAG) Inc., Lightwave Logic, Inc. (OTCQX:LWLG), Destination XL Group, Inc., and Peak Fintech Group Inc. graduated to NASDAQ.
The OTCQX Billion+ Index (.OTCQXBIL), which tracks the performance of $1 billion-plus market cap OTCQX companies, was down 1.7% for the quarter. Six companies were added to the index including Ascend Wellness Holdings, Inc; Bitwise 10 Crypto Index Fund; NOVONIX LTD; Paladin Energy Ltd (ASX:PDN); Voyager Digital (CSE:VYGR, OTCQX:VYGVF) Ltd; and Wesdome Gold Mines Ltd (TSX:WDO). Eleven were removed.
The OTCQX Dividend Index (.OTCQXDIV), which tracks dividend-paying US and international OTCQX companies, was down 1.4% in the quarter. Nineteen new companies were added to the index including Abitibi Royalties, Inc; Dimeco, Inc.; InsCorp, Inc.; and Nobility Homes, Inc. (OTCQX:NOBH) Seventeen companies were removed.
The OTCQX Banks Index (.OTCQXBK), comprised of OTCQX community and regional banks, increased 2.0% in the third quarter. Ten banks were added to the index in the quarter namely CNB Bank Shares, Inc; Dacotah Banks, Inc: Dimeco, Inc; BAYFIRST FINL CORP; 1st Capital Bancorp; Grand River Commerce Inc; High Country Bancorp, Inc; US Metro Bancorp; Valley Republic Bancorp; and Westbury Bancorp, Inc. Thirteen companies were removed.
The OTCQX International Index (.OTCQXINT), a benchmark for international OTCQX companies, was down 2.2% for the quarter. One hundred fifty-one companies were added to the index including Aldebaran Resources Inc.; Barksdale Resources Corp; Eve and Co Incorporated; Laramide Resources (ASX:LAM) Ltd; Orogen Royalties Inc; Petrus Resources Ltd and Star Royalties Ltd (TSX-V:STRR). Twenty companies were removed.
The OTCQX Canada Index (.OTCQXCAN), which tracks Canadian OTCQX companies, was down 12.7% in the third quarter. Thirty-nine companies were added to the index and twenty-five companies were removed.
The OTCQX US Index (.OTCQXUS), a benchmark for US OTCQX companies, was up 1.7% in the third quarter. Eighteen companies were added to the index and twenty-five companies were removed.
OTCQX Cannabis Index (.OTCQXMJ), a benchmark for cannabis companies, was down 21.2% in the third quarter. Fifteen new companies joined the index namely Avant Brands (TSX:AVNT, OTCQX:AVTBF) Inc; Delta 9 Cannabis Inc; Harborside Inc; Mountain Valley MD Holdings Inc (CSE:MVMD, OTCQX:MVMDF); THC BioMed Intl Ltd; and Unrivaled Brands, Inc. Sixty-six companies were removed.
The OTCQB Venture Index (.OTCQB), which tracks the overall OTCQB Venture Market, was down 13.1% in the third quarter. One hundred thirty-eight companies were added to the index including Acme Lithium Inc.; Bionexus Gene Lab Corp (OTCQB:BGLC). Emmaus Life Sciences, Inc.; GABY INC.; Intellinetics, Inc. (OTCQB:INLX); LFTD Partners Inc.; PHX Energy Services Corp (TSX:PHX).; Tokens.com (OTCQB:SMURF, NEO:COIN.AQN) Corp. and ZEPHYR ENERGY PLC. One hundred sixteen companies were removed.
A list of all index additions and deletions can be accessed via the following link: https://www.otcmarkets.com/files/Quarterly_Index_Constituent_Changes.pdf
All indexes are market capitalization-weighted and adjusted on a quarterly basis for additions and share changes over 5% during the months of March, June, September and December. In the case of ADRs, the DR ratio is considered. Dividends are re-invested as of the close of business the day before the ex-dividend date.
The OTCQX Composite Index, OTCQX Billion+ Index, OTCQX Dividend Index, OTCQX International Index, OTCQX US Index, OTCQX Banks Index, OTCQX Cannabis Index, and OTCQB Venture Index have minimum liquidity screens to ensure tradability.
OTC Markets Group operates the OTCQX Best Market, the OTCQB Venture Market and the Pink Open Market for 11,000 US and global securities. Through OTC Link ATS and OTC Link ECN, it connects a diverse network of broker-dealers that provide liquidity and execution services to enable investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors.
Contact the author at jon.hopkins@proactiveinvestors.com