Lightwave Logic Inc (LWLG)

[Fruno]

No, LWLG is in both. Each May, Russell determines the top 4000 stocks based on market cap. The Russell 3000 index includes the top 3000. The Russell 2000 includes stocks ranked 1001 - 3000. LWLG fits in both categories.

The Russell microcap index includes stocks ranked 2001 - 4000, overlapping the lower half of the Russell 2000. LWLG is not in that index, so the market cap must rank between 1001 and 2000.

See the definitions here.

Also, these are indices, not funds. There are many funds (mutual funds, ETFs, etc.) that track these indices. They need to buy stock in companies added to the indices, and re-balance every June based on the Russell reconstitution. (Sorry, being pedantic here, but I think the distinction is worth noting.)