Costa Mesa-based Pacific Mercantile Bancorp was one of 194 U.S. companies added to the Russell 2000 index when the list of smaller stocks got its annual readjustment last week. The Russell 2000 is one of the several indexes maintained by Seattle-based Russell Investment Group, which tracks U.S. common stocks in various categories based on market value.
Companies in the Russell 2000 index reflect market capitalizations ranging from $101 million to $2.61 billion.
Pacific Mercantile had a recent market value of about $110.6 million.
Irvine-based Tilly’s Inc. was another addition to the index.
The action-sports retail company went public in May, and now has a market value of about $415.1 million.
Several Orange County-based companies were deleted from the index. Santa Ana-based Identive Group Inc. and Biolase Technology Inc. in Irvine both fell off after one-year stays on the index.
Also removed from the index were Anaheim-based Pacific Sunwear of California Inc., Powerwave Technologies Inc. of Santa Ana, Aliso Viejo-based Smith Micro Software Inc., and Peregrine Pharmaceuticals Inc. in Tustin.
— Jane Yu
