OTC Markets Group Announces Quarterly Index Performance and Rebalancing

Rhea-AI Summary

OTC Markets Group Inc. (OTCM) released its first quarter 2023 performance data, highlighting a generally positive trend across several indices. The OTCQX Composite Index rose by 8.8%, with 22 new companies added and 56 companies removed. The OTCQX Billion+ Index increased by 7.8%, and the OTCQX Dividend Index was up 8.3%. On the other hand, the OTCQX Banks Index saw a decline of 8.2%, with 4 new additions but 22 companies removed. The OTCQX Cannabis Index dropped 12.1%, despite adding 5 new companies. Overall, the indices indicate a mixed performance, reflecting market dynamics.

Positive

• OTCQX Composite Index increased by 8.8%.
• OTCQX Billion+ Index rose by 7.8%.
• OTCQX Dividend Index up by 8.3%.
• OTCQX International Index up by 8.5%.
• OTCQX U.S. Index increased by 9.1%.
• OTCQX Canada Index rose by 5.8%.

Negative

• OTCQX Banks Index declined by 8.2%.
• OTCQX Cannabis Index dropped by 12.1%.
• OTCQB Venture Index remained flat at 0.0%.

NEW YORK, April 26, 2023 (GLOBE NEWSWIRE) -- OTC Markets Group Inc. (OTCQX: OTCM), operator of regulated financial markets for 12,000 U.S. and global securities, today announced the first quarter 2023 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 up 8.8% in Q1 2023. 22 new companies joined the Index while 56 companies were removed. NioCorp Developments Ltd. (NB) moved to Nasdaq on 3/21/2023.

The OTCQX Billion+ Index (.OTCQXBIL), which tracks the performance of $1 billion-plus market cap OTCQX companies was up 7.8% in Q1 2023. 4 new companies joined the Index while 3 companies were removed.

The OTCQX Dividend Index (.OTCQXDIV), which tracks dividend-paying U.S. and international OTCQX companies was up 8.3% in Q1 2023. 10 new companies joined the Index, while 20 companies were removed.

The OTCQX Banks Index (.OTCQXBK), comprised of OTCQX community and regional banks, was down 8.2% in Q1 2023. 4 companies joined the Index while 22 companies were removed.

The OTCQX International Index (.OTCQXINT), a benchmark for international OTCQX companies, was up 8.5% in Q1 2023. 13 new companies joined the Index while 37 companies were removed.

The OTCQX Canada Index (.OTCQXCAN), which tracks Canadian OTCQX companies was up 5.8% in Q1 2023. 11 new companies joined the Index while 23 companies were removed.

OTCQX U.S. Index (.OTCQXUS), a benchmark for U.S. OTCQX companies, was up 9.1% in Q1 2023. 9 new companies joined the Index while 26 companies were removed.

OTCQX Cannabis Index (.OTCQXMJ), a benchmark for cannabis companies, was down 12.1% in Q1 2023. 5 new companies joined the Index while 4 companies were removed.

The OTCQB Venture Index (.OTCQB), which tracks the overall OTCQB Venture Market, is flat (0.0% ) in Q1 2023. 70 companies were added to the index while 136 companies were removed. American Lithium Corp. (AMLI) went to NASDAQ on 1/10/2023. Atlas Lithium Corporation (ATLX) went to NASDAQ on 1/10/2023. enCore Energy Corp. (EU) went to NYSE MKT on 1/23/2023. Optex Systems Holdings, Inc. (OPXS) went to NASDAQ on 3/15/2023. Clean Energy Technologies, Inc. (CETY) went to NASDAQ on 3/23/2023. Additionally, 2 securities went from OTCQB to OTCQX in Q1 and are now included in at least one of the OTCQX Indices.

For a list of all index additions and deletions, visit
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 U.S. Index, OTCQX Banks Index, OTCQX Cannabis Index, and OTCQB Venture Index have minimum liquidity screens to ensure tradability.

All index data is priced in real-time and is available on the OTC Markets Group website, www.otcmarkets.com, and via major financial data distributors and websites, including Bloomberg, Reuters and FT.com.

Past performance does not guarantee future results. Investors cannot invest directly in any of these indexes.

OTC Markets Group Inc. provides no advice, recommendation or endorsement with respect to any company or securities. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities.

About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates regulated markets for trading 12,000 U.S. and international securities. Our data-driven disclosure standards form the foundation of our three public markets: OTCQX^® Best Market, OTCQB^® Venture Market and Pink^® Open Market.

Our OTC Link^® Alternative Trading Systems (ATSs) provide critical market infrastructure that broker-dealers rely on to facilitate trading. Our innovative model offers companies more efficient access to the U.S. financial markets.

OTC Link ATS, OTC Link ECN and OTC Link NQB are each an SEC regulated ATS, operated by OTC Link LLC, a FINRA and SEC registered broker-dealer, member SIPC.

To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.

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Media Contact:
OTC Markets Group Inc., +1 (212) 896-4428, media@otcmarkets.com

FAQ

What was the performance of the OTCQX Composite Index in Q1 2023?

The OTCQX Composite Index increased by 8.8% in Q1 2023.

How many companies were removed from the OTCQX Dividend Index in Q1 2023?

20 companies were removed from the OTCQX Dividend Index in Q1 2023.

What is the OTCQX Cannabis Index performance in Q1 2023?

The OTCQX Cannabis Index declined by 12.1% in Q1 2023.

How many new companies joined the OTCQB Index in Q1 2023?

70 companies joined the OTCQB Index in Q1 2023.

What changes occurred in the OTCQX Banks Index during Q1 2023?

The OTCQX Banks Index declined by 8.2% with 4 new companies added and 22 removed.