This species may occur in bog ponds, streams and lakes. It is commonly found in association with the northern redbelly dace, with which it may hybridize. The finescale dace spawns from April to June under logs and debris, with eggs hatching in 4 days. It feeds on insects, crustaceans and plankton. This species is widely distributed in glaciated regions of southern Canada and northern United States.
Isolated populations occur in South Dakota, Nebraska, Colorado and Wyoming.
The finescale dace has been documented in Brule, Charles Mix, Fall River, Gregory and Lawrence Counties in South Dakota. Suitable cool spring-fed stream habitat where the finescale dace occurs is rare in South Dakota.