NEW YORK (TheStreet) -- Shares of Uranium Energy (UEC) were gaining 19.4% to $2.15 Monday following the announcement that the uranium producer will be added to the Russell 3000 Index and Russell Global Index.
Uranium Energy said it will be included in the Russell indexes after their annual reconstitution on June 26, 2015. The annual reconstitution of the indexes captures the 4,000 largest U.S. stocks and ranks them by total market capitalization.
The company will remain in the Russell 3000 for at least a year.
Uranium Energy is a uranium mining and exploration company with a full-licensed processing facility in south Texas. The company also controls a pipeline of advanced-stage projects in Arizona, Colorado, and Paraguay.
About 1.5 million shares of Uranium Energy were traded by 9:58 a.m. Monday, compared to the company's average trading volume of about 1.8 million shares a day.