Cinedigm Corp. will be part of the Russell U.S. Indexes this month, a move that gives the company greater visibility in the investment community.
The Sherman Oaks entertainment content distributor joins the Russell Microcap Index when trading opens on June 25 and will stay on for at lease one year.
Russell Indexes are a benchmarking tool for institutional investors developed by FTSE Russell, a subsidiary of the London Stock Exchange Group.
Cinedigm Chief Executive Chris McGurk said the company’s inclusion in the microcap index underscores the progress it is making to increase shareholder value by expanding distribution of content and through streaming on over-the-top channels globally.
“Inclusion in the index significantly benefits our company and shareholders by elevating our visibility within the global investment community and by building increased global recognition of the Cinedigm brand,” McGurk said in a statement.
The announcement of the company going on the Russell Index was made Monday. On Tuesday, shares in Cinedigm (CIDM) closed down 20 cents, or 1.3 percent, to $1.47 on the Nasdaq.