Shares of SRAX Inc. gained Tuesday after the company announced it will join the Russell Microcap Index at the end of the month.

The Westlake Village-based fintech company’s membership on the index, which remains in place for one year, will begin at the conclusion of the 2021 Russell indexes annual reconstitution, effective after the market opens on June 28.


“We’re excited to be added to the Russell Microcap Index, a continued validation of the growth we are experiencing. The addition to the index will continue to drive our institutional investor base,” Christopher Miglino, chief executive of SRAX, said in a statement.


SRAX announced last month the launch of its Sequire Investor Community, which seeks to connect more than 5 million retail and institutional investors through an online platform. Sequire provides market data and investor insights for publicly traded companies.


The company made the announcement Monday. Shares of SRAX rose nearly 11.6 percent Tuesday to close at $6.82 on the Nasdaq.