Reliance Global Group, Inc. (NASDAQ:RELI) shares are trading higher Tuesday after the company provided an update on the pending acquisition of Spetner Associates. The company projects the acquisition will close in the second half of 2024 and double its annual revenues to an estimated $28 million.

"We are excited to share that the anticipated impact of the pending Spetner Associates acquisition is surpassing our initial expectations. Spetner's BenManage voluntary benefit insurance segment has expanded significantly, now covering 85,000 employees—a phenomenal increase from the 45,000 employee lives it covered at the time we first announced the acquisition," said Ezra Beyman, CEO of Reliance Global Group.

Reliance Global Group shares are moving on heavy trading volume following the announcement with more than 46 million shares exchanging hands before the opening bell Tuesday. According to data from Benzinga Pro, the stock has a float of only 7.622 million shares.

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How To Buy RELI Stock:

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Reliance Global Group's case, it is in the Financials sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

RELI Price Action: According to Benzinga Pro, Reliance Global shares are up 245% at 76 cents at the time of publication Tuesday.

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