Russell 2000 adds 3 utility stocks

Three companies in the utilities sector are being to be added to the Russell 2000 in this year's reconstitution of the small stock index, while one in the sector was removed.

Chesapeake Utilities., Connecticut Water Service Inc., and Middlesex Water Co. were added to the Russell 2000. SureWest Communications was removed.

Tacoma, Wash.-based Russell Investments realigns the Russell 3000 index once per year, tracking what it maintains is 99 percent of the U.S. equity market. That index is then broken down to 26 smaller indexes, including the widely watched Russell 1000 index of large capitalization stocks and the Russell 2000 index of small capitalization stocks.

The makeup of the Russell indexes for the next 12 months was finalized after the closing bell Friday.