NJCU New Jersey 50 Index Beats Dow industrials, S&P 500 in August

The NJCU New Jersey 50 Index, a fund representing 50 of the largest publicly traded companies in the state, and thus a barometer for the New Jersey economy, jumped 3.2 percent, reports ROI-NJ. 

Since its inception in August 2017, the NJCU New Jersey 50 Index is up 14.3 percent. Officials at the New Jersey City University School of Business have said they created the index as a way to take a snapshot of the New Jersey economy.

“New Jersey is home to a wide variety of publicly traded corporations, from huge global pharmaceuticals to technology innovators, consumer goods companies and retailers,” School of Business Dean Bernard McSherry said.

“The NJCU New Jersey 50 contains a diverse group of stocks that can be effectively used to gauge how well businesses in New Jersey are succeeding.” You can follow it daily at under the ticker NJCU50PR.

The increase in August was fueled by strong performance from Universal Display (ticker: OLED) in Ewing, Ascena Retail Group (ASNA) in Mahwah and Bel Fuse (BELFA) in Jersey City, with each moving higher by more than 20 percent during the month.

In total, 23 members of the index rose more than the S&P 500 in August, and 33 generated positive returns, powering the NJCU index higher.

Among the 17 stocks that weighed down the index’s August performance were shares of Avis Budget Group (CAR) in Parsippany, Movado Group (MOV) in Paramus and AdvanSix (ASIX) in Parsippany. All three fell more than 10 percent.

For the full story, visit ROI-NJ.