Why is the Russell 2000 comprised of only 1974 stocks? I counted the total number of stocks as 1974 from their June 2013 list at http://www.russell.com/indexes/documents/Membership/Russell2000_Membership_List.pdf
Russell does not on their website at http://www.russell.com/Indexes/data/fact_sheets/us/Russell_2000_Index.asp that the RUT "includes approximately 2000 of the smallest securities" so they acknowledge it's not exactly 2000.
But one would assume that the Russell 2000 should have exactly 2000 stocks.
Don't they just take the bottom 2000 stocks from the Russell 3000 so they have 2000 total? If they do not do this, then what are the oddities in their algorithm to populate the 2000 index that results in only 1974 stocks being used? I can understand during the course of year a stock may get delisted as a result of going private or getting acquired thus the total number of stocks would not be 2000. But this new list from June 28, 2013 would be the ideal time to re-set the list to 2000 total stocks in the index. What is the specific reason they do not do this?