Scanning with Russell Microcap companies

miguel216

Hello, I need help, does anyone know if I can make a screener with Russell Microcap companies?

lmkwin

From Investopedia
What Is the Russell Microcap Index?
The Russell Microcap Index consists of the smallest 1,000 securities in the small-cap Russell 2000 Index, plus the next 1,000 smallest eligible securities based on a combination of their market capitalization and current index membership weight.

The broad index is designed to present an unbiased collection of the smallest tradable securities that still meet exchange listing requirements, so over-the-counter (OTC) stocks and pink sheet securities are excluded.

KEY TAKEAWAYS
The Russell Microcap index covers the smallest stocks in the Russell 2000 with market caps between approximately $50 million and $300 million.
The Russell Microcap Index is constructed to provide a comprehensive and unbiased barometer for the microcap segment trading on national exchanges.
Microcaps tend to be riskier and more volatile than large-cap stocks, but can also produce diamonds in the rough with above-average growth potential.

A few ways I can think of to try and 'replicate'.

One way is you'd select the major US Exchanges using the Exchange in the Ticker Properties dropdown

NYSE or AMEX or Nasdaq

Restrict it to Stocks and No ETFs

Select type from the Ticker Properties dropdown

and [type is stock]

Select Exchange traded Funds(All) from the Indexes & ETFS dropdown
and add the word NOT. It defaults in with group is ETF add the word NOT

group is NOT ETF

Then limit your Market Cap using the market cap in the Ticker Properties dropdown

> 50 and < 300

I'd add a Price restriction

close > 5.00 or something like that

and possibly a volume restriction

volume > 5000 or something like that

Run it and save the results to a chartlist if not toooooo large. I think there is a limit on the number of tickers in a chartlist of 1000. If it is toooo large, then bump your volume number or price number, or lower market cap number to reduce the results.


2nd way is to go to ChartMill.com screener and select the Russell Microcap Index from their Index dropdown.
Download that result. Review it and import it to a chartlist.

A couple caveats there. I don't know if that option is available to non-members. I don't know how often the Russell updates their holdings. Looking at the Chartmill download, there are many "index members" that have a much higher market cap NOW. MOD is a top market cap listing in that group but has gone up 350% in the past year and close to 1100% in the last 2 years. MOD is listed with a 4.88B market cap on StockCharts.com There are over 1473 names on that list.

Third way is to go to the ishares IWC etf website and download the holdings of that etf. It doesn't mention the Russell Microcap index in their description but comparing the list from ChartMill and ishares, they appear to be pretty much the same holdings.

https://www.ishares.com/us/products/239716/ishares-microcap-etf

They have a much lower market cap requirement (if any) and have several hundred of sub $5 names in the listing. There are close to 1488 names in that list.

So, I'd probably go with the 3rd option, download the IWC listing and break it into two chartlists on StockCharts and then use those for your purposes.

Just a couple thoughts to assist your efforts

miguel216

Very good explanation, thank you for taking the time to respond, very grateful.