Pelican State Portfolio largely lags rest of market

The Pelican State Portfolio, a group of Louisiana stocks tracked by The Advocate, continued to lag behind the quarterly performance of the broader market.

The 24 Louisiana-based businesses were up 5.1 percent during the second quarter. That was better than the Dow Jones industrial average, an index of 30 top businesses, which rose 0.8 percent during the three-month period. But it was slightly worse than the Russell 2000, which follows small-cap stocks that have an average market capitalization of $1.3 billion, and the S&P 500, which tracks 500 large companies. The Russell index was up 7.5 percent for the quarter, while the S&P rose by 8.7 percent.

“The first half of the year, the market was really, really flat,” said Peter Ricchiuti, a finance professor at Tulane University who tracks regional stocks across the South through the university’s Burkenroad Reports. “When you get to the peak of the market, the small-cap stocks do better”…


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