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<p>Robinhood, a major US commission-free stock trading and investing app, launched the Robinhood Investor Index on Friday to track the top 100 stocks its users are investing in.</p><p>The Index, which is based on data on the stock holdings or positions of the firm's 20 million+ funded customer accounts, will be updated once a month.</p><p>"Over the last several years, we've seen our customers -- and millions more like them -- play an increasingly important role in the market. With the launch of the Robinhood Investor Index, we're giving customers, and the world, a look at everyday investor positioning and performance on Robinhood," Robinhood explained in <a href="https://blog.robinhood.com/news/2022/introducing-the-robinhood-investor-index" target="_blank" rel="nofollow">a statement</a> published on Friday.</p><p>Robinhood noted that unlike many other indices, its new investor index is not "weighted by dollars but by conviction."</p><p>"We measure a customer's conviction for each investment by looking at the percentage it makes up of their portfolio," the US trading app operator noted. </p><p>Additionally, Robinhood explained: "And to ensure that all customers are equally represented, we average conviction for each investment across all customers, whether they have $20 or $20 million in their account. </p><p>"Our data tells us that Robinhood customers invest in the companies they're passionate about, and the Robinhood Investor Index aims to make their voices heard."</p><p>Recent Launches</p><p>The introduction of the Robinhood Investor Index comes over a month after the stock trading and investment firm <a href="https://www.financemagnates.com/binary-options/robinhood-introduces-options-trading-for-cash-account-holders/">introduced options trading</a> for its cash account holders.</p><p>Robinhood's advanced customers previously could only trade stocks and <a href="https://www.financemagnates.com/terms/e/exchange/" target="_blank" id="b5da6e64-2afe-421d-9b81-16404b7d59d6_1" class="terms__main-term">exchange</a>-traded funds.</p><p>Earlier in May, Robinhood <a href="https://www.financemagnates.com/forex/robinhood-launches-stock-lending-program/">introduced a stock lending programme</a> to promote a 'democratized approach' to paid securities lending on its platform.</p><p>With the programme, Robinhood explained,  a customer could lend out fully-paid stocks in their portfolio by enabling the Stock Lending feature.</p><p>Through Robinhood's in-app dashboard, customers can track earnings, see their positions, and enable or disable Stock Lending at any time, Finance Magnates reported.</p><p>Meanwhile, in May, Robinhood disclosed its plans <a href="https://www.financemagnates.com/cryptocurrency/news/robinhood-to-release-a-non-custodial-wallet/">to release</a> a non-custodial wallet by the end of this year.</p><p>The wallet, which is to be introduced as a standalone app, is being designed to give Robinhood's customers total control of their cryptocurrency in Web3.</p>

This article was written by Solomon Oladipupo at www.financemagnates.com.