Pelican State Portfolio falls short of broader markets | Business

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A big drop in the stock price for two Louisiana-based home health companies caused the Pelican State Portfolio to lag behind the performance of the broader markets during the third quarter.

The 20 Louisiana-based publicly traded businesses that make up the portfolio were down by 7% collectively for the quarter. The stocks did outperform the indexes over the 12 month period ending Sept. 30, going up 55.4%.

In comparison, the S&P 500, which tracks 500 large companies, was up 0.2% during the quarter and 28.1% for the year. The Dow Jones Industrial Average, an index of 30 top businesses, was down 1.9% for the quarter, but up 21.8% for the year. The Russell 2000, which follows small-cap stocks that have an average market capitalization of $1.3 billion, was down 4.7% for the quarter, but increased 46.2% over the 12-month…

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