NYX Nyse Euronext

LinkedIn Corp. (LNKD) and General Motors Co. (GM) marked two of the biggest additions to the newly rebalanced Russell indexes on Monday.

LinkedIn was one of 22 initial public offerings that were added to the Russell indexes during its annual rebalancing. Both LinkedIn and GM were added to the large-cap Russell 1000, according to rankings released by Russell Investments on Monday, the day the newly reconstituted indexes went into effect.

Once a year, the Russell indexes reshuffle which stocks will trade within the Russell 1000 and the small-cap Russell 2000, which, when combined, make up the broad Russell 3000 index. The annual recomposition is a huge event for index funds looking to track the basket of small-cap stocks, which are compelled to buy up shares of companies entering the index and unload any that exit.

The event prompted a flurry of activity in the final trading moments late Friday for the biggest U.S. stock exchanges, but the increased volume failed to match last year's high levels.

NYSE Euronext (NYX) reported roughly 841 million shares were traded in its closing auction Friday, while Nasdaq OMX Group Inc. (NDAQ) saw 750.8 million shares change hands in its "closing cross" trade, according to exchange officials.

Since the rebalancing comes only once a year, it makes for a more eventful day for traders as opposed to the quarterly rebalancing of the Standard & Poor's 500 index.

LinkedIn, the website and social network best known for online career hobnobbing and recruitment, saw its stock more than double on its first day of trading last month. As the first major U.S. social-networking company to go public, LinkedIn is viewed by many as a preview for others that remain private, with expectations that a name such as Facebook will be in even greater demand.

Meanwhile, GM returned to the Big Board in November after a 16-month absence due to a U.S.-funded bankruptcy reorganization. Last month, the auto maker said its first-quarter profit tripled, helped by the sale of interests in two former subsidiaries. Without those asset sales, GM's earnings disappointed investors and highlighted difficulties in its North American operations and other units around the world.

Exxon Mobil Corp. (XOM), a Dow component, and Apple Inc. (AAPL) continue to rank as the largest two companies in the Russell indexes in terms of market capitalization. Chevron Corp. (CVX), also a Dow component, will re-enter the top 10 as the fourth-largest stock, according to Russell.

-By Steven Russolillo, Dow Jones Newswires; 212-416-2180; steven.russolillo@dowjones.com

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