OTC Markets Group Inc (OTCQX:OTCM) reported the second quarter performance and rebalancing of its OTCQX and OTCQB indexes on Friday, revealing the companies joining its ranks and those no longer qualifying.
The OTCQX Composite Index, which functions as a benchmark for the OTCQX Best Market, jumped more than 20% in the second quarter. Thirty new companies were welcomed to the index, including North American explorer HighGold Mining Inc (OTCQX:HGGOF) (CVE:HIGH), specialty metals distributor AM Castle & Co (OTCQX:CTAM) and integrated cannabis company Khiron Life Sciences Corp (OTCQX:KHRNF) (CVE:KHRN).
Conversely, 31 companies were removed from the index, notably including the bank holding company Delmar Bancorp (NASDAQ:DBCP), which graduated to the Nasdaq in May.
The OTCQX Billion+ Index (.OTCQXBIL), which tracks OTCQX companies with a market cap above $1 billion, also rose 20.0% in the quarter. Eight new companies have qualified to join the index, such as cannabis operator Curaleaf Holdings Inc (OTCQX:CURLF) (CSE:CURA), Grayscale Ethereum Trust (OTCQX:ETHE) and South American utilities operator Interconexion Electrica SA ESP (OTCQX:IESFY). One company was removed, the group said.
The OTCQX Dividend Index (.OTCQXDIV), which lists OTCQX companies paying dividends, increased 21.3% in the quarter. Eight companies were added, including financial services provider Blackhawk Bancorp Inc (OTCQX:BHWB), Georgia-based bank holding company Morris State Bancshares Inc (OTCQX:MBLU) and Chicago bank holding company Marquette National Corp (OTCQX:MNAT). Eighteen companies were removed.
The OTCQX Banks Index (.OTCQXBK) grew 2.9% in the second quarter. Four banks were added, including the aforementioned Blackhawk Bancorp, Morris State and Marquette National, along with CNB Bank Shares Inc (OTCQX:CNBN). Eleven companies departed.
The OTCQX International Index (.OTCQXINT) was up 20.4%. Thirty companies joined, such as Corvus Gold Inc (OTCQX:CORVF) (TSE:KOR), hydrogen generator producer Dynacert Inc (OTCQX:DYFSF) (TSE:DYA) and animated content producer Wow Unlimited Media Inc (OTCX:WOWMF) (CVE:WOW). Eleven companies were removed.
The OTCQX Canada Index (.OTCQXCAN) gained 37.1% in the quarter, adding 17 companies and dropping 8. The OTCQX US Index (.OTCQXUS) grew 12.8%, welcoming 8 companies and losing 19.
The OTCQB Venture Index (.OTCQB) was up 39.8% in the quarter. It added some 100 companies, and 113 companies were removed. Esports Entertainment Group Inc (NASDAQ: GMBL), interventional oncology company Delcath Systems Inc (NASDAQ:DCTH) and medical device firm Windtree Therapeutics Inc (NASDAQ:WINT) all graduated to the Nasdaq.
The New York-headquartered OTC Markets Group is the operator of the OTCQX Best Market, the OTCQB Venture Market, and the Pink Open Market for 10,000 US and global securities.
Contact Andrew Kessel at email@example.com
Follow him on Twitter @andrew_kessel