Thursday, June 23, 2011

Russell Indices Reconstitution

The Russell Global, Russell 3000 and Russell Microcap are being reconstituted this week.  The Russell Investments website, has that information available to you.  You may find it here.  If you've not visited the website, you will find interesting information about index composition as well as real-time market analysis.

From the website, here is a graphic of the reconstitution time-line (Click to make larger):

To assist you in bird dogging your own opportunities, I have created a FINVIZ profile for the additions and deletions for the Russell 3000 and the Russell Microcap. I did not include the Global as there are non-US listed companies there.  To see the additions and deletions, simply click on the links to see the composition of each.  At the FINVIZ site, you can download the tables into an Excel file.

Additions Deletions
Russell Reconstitution
3000 3000
Microcap Microcap

I have not looked at the list in detail myself (but will), rather I wanted to put the information in a format that you could readily analyze.  I am not promoting Russell Investments products or services; however, I wanted to share with you an important action to popular indices that may have ramifications for your portfolio or house some opportunities.

How is this information actionable?  With additions/deletions to indices for reconstitution, funds mirroring these index changes will have to buy/sell accordingly.  There may be some long/short opportunities for sharp-eyed traders. Or, you may own some of these names, and you may notice some unusual activity.

I hope that you find this information useful.

Position:  No stocks mentioned, but ready to investigate for opportunities.