NetZero Inc. in Westlake Village, which provides free Internet access to users willing to view online advertising, says its common stock has been added to the Russell 2000 Index.
The Russell 2000 is a small cap index used by investment firms. NetZero's addition to the index makes it possible for the company to be included in the investment portfolios at those firms.
Frank Russell Co., publisher of the index, estimates that more than $177 billion is invested in index funds that use its U.S. stock indices as their model.
"We are honored to be added to this prominent index and consider it to be a positive reflection upon NetZero's growth and unique business model," said Mark R. Goldston, chairman and chief executive. "We are committed to increasing shareholder value, and we look forward to the added visibility within the investment and financial communities that membership within the Russell 2000 can bring."