University of Miami debuts stock index for Florida companies

Want to know how Florida companies are doing in the stock market?

Now there’s an S&P Dow Jones index for that very purpose, thanks to a first-of-its-kind initiative by the University of Miami School of Business Administration.

The “University of Miami’s Florida 50 Index” index (available under the ticker UMIAMIFL) measures 50 small-, mid- and large-cap companies based in Florida and listed on the New York Stock Exchange or NASDAQ. The university says the index will function as a bellwether for Florida’s economy and is the first custom S&P index to track companies headquartered in a single state, as well as the first to be owned by a university.

The index’s 10 largest firms are NextEra Energy (headquartered in Juno Beach), CSX (Jacksonville), Carnival Cruise Lines (Miami), Roper Industries (Sarasota), Royal Caribbean Cruises (Miami), Fidelity National Information Services (Jacksonville), Jarden (Boca Raton), Citrix Systems (Fort Lauderdale), Harris (Melbourne) and Lennar (Miami).

The index is available at: www.UMFL50.com.

This story was originally published January 25, 2016 at 12:51 PM with the headline "University of Miami debuts stock index for Florida companies."