CORAL GABLES, Fla., April 1, 2016 /PRNewswire-USNewswire/ -- The University of Miami's Florida 50 Index ended the turbulent first quarter of 2016 with a gain of 2.25% and with nearly 20 of its firms seeing stock prices rise more than 10%. The gain in the Florida index, which tracks all Florida firms in the S&P Composite 1500® Index, compares to a gain of just 1.00% percent in the broader S&P 1500.
The Florida 50 Index, which was established in January by the University of Miami School of Business Administration, is the first custom S&P Dow Jones index to be owned by a university. It is intended to act as an effective representation of the stock market and a bellwether for the Florida economy.
"We are very interested in following how the Florida 50 Index performs compared to the broader market as an indicator of how the state's economy is doing compared to the rest of the nation," said Seth Levine, an accounting lecturer at the School. "Over the past 11 years, the index beat the S&P 1500 by more than 30%."
The Florida 50 Index is based on the capitalizations of about 50 Florida-based large-, mid- and small-cap companies included in the S&P 1500 index having common stock listed on the NYSE or NASDAQ.
The index is available under ticker symbol UMIAMIFL through the S&P website at: www.UMFL50.com.
About the University of Miami School of Business Administration
The University of Miami School of Business Administration is a leader in preparing individuals and organizations to excel in the complex, dynamic, and interconnected world of global business. One of 12 schools and colleges at the University of Miami, the School offers undergraduate, master's, doctoral, and executive education programs. With its location in a major center for international business, the School is acclaimed for its global perspective, student and faculty diversity, and engagement with the business community. More information about the University of Miami School of Business can be found at www.bus.miami.edu.
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SOURCE University of Miami School of Business Administration