OTC Markets Group Announces Quarterly Index Performance and Rebalancing

Rhea-AI Summary

OTC Markets Group Inc. announced the quarterly performance and rebalancing of various indices, including the OTCQX and OTCQB indexes. The OTCQX Composite Index was flat, with new companies joining and others being removed. The OTCQX Billion+ Index and Dividend Index also remained flat, while the OTCQX Banks Index was down by 1.4%. The OTCQX Canada Index was up by 8.2%, the OTCQX U.S. Index by 18.4%, and the OTCQX Cannabis Index by 38.5%. The OTCQB Venture Index was up by 1.4% with companies transitioning between OTCQB and OTCQX.

Positive

• Positive: The OTCQX Canada Index saw a significant increase of 8.2% in Q1 2024, indicating positive performance among Canadian OTCQX companies.

• Positive: The OTCQX U.S. Index experienced a notable rise of 18.4% in Q1 2024, reflecting strong performance among U.S. OTCQX companies during this period.

• Positive: The OTCQX Cannabis Index showed substantial growth of 38.5% in Q1 2024, signaling positive performance within the cannabis industry.

Negative

• Negative: The OTCQX Banks Index declined by 1.4% in Q1 2024, indicating a decrease in performance among OTCQX community and regional banks during this period.

NEW YORK, May 02, 2024 (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 2024 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 flat in Q1 2024. 43 new companies joined the Index while 33 companies were removed. Grayscale Bitcoin Trust (BTC) (GBTC) went to NYSE ARCA on 1/11/2024.

The OTCQX Billion+ Index (.OTCQXBIL), which tracks the performance of $1 billion-plus market cap OTCQX companies, was flat in Q1 2024. 5 new companies joined the Index and 3 companies were removed.

The OTCQX Dividend Index (.OTCQXDIV), which tracks dividend-paying U.S. and international OTCQX companies, was flat in Q1 2024. 21 new companies joined the Index, while 7 companies were removed.

The OTCQX Banks Index (.OTCQXBK), comprised of OTCQX community and regional banks, was down by 1.4% in Q1 2024. 14 companies joined the Index while 7 companies were removed.

The OTCQX International Index (.OTCQXINT), a benchmark for international OTCQX companies, was down slightly by 0.3% in Q1 2024. 23 new companies joined the Index while 20 companies were removed.

The OTCQX Canada Index (.OTCQXCAN), which tracks Canadian OTCQX companies, was up by 8.2% in Q1 2024. 15 new companies joined the Index while 14 companies were removed.

The OTCQX U.S. Index (.OTCQXUS), a benchmark for U.S. OTCQX companies, was up by 18.4% in Q1 2024. 20 new companies joined the Index while 13 companies were removed.

The OTCQX Cannabis Index (.OTCQXMJ), a benchmark for cannabis companies, was up by 38.5% in Q1 2024. No new companies joined the Index while 2 companies were removed.

The OTCQB Venture Index (.OTCQB), which tracks the overall OTCQB Venture Market, was up by 1.4% in Q1 2022. 108 companies were added to the index while 105 companies were removed. Axil Brands, Inc. (AXIL) went to NYSE MKT on 2/14/2024. Wetouch Technology Inc. (WETH) went to NASDAQ on 2/21/2024. 6 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

How did the OTCQX Canada Index perform in Q1 2024?

The OTCQX Canada Index was up by 8.2% in Q1 2024, showing positive performance among Canadian OTCQX companies.

What was the performance of the OTCQX U.S. Index in Q1 2024?

The OTCQX U.S. Index rose by 18.4% in Q1 2024, indicating strong performance among U.S. OTCQX companies during this period.

How did the OTCQX Cannabis Index fare in Q1 2024?

The OTCQX Cannabis Index experienced significant growth of 38.5% in Q1 2024, highlighting positive performance within the cannabis industry.

What was the change in the OTCQX Banks Index in Q1 2024?

The OTCQX Banks Index declined by 1.4% in Q1 2024, indicating a decrease in performance among OTCQX community and regional banks during this period.