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

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

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

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 �鶹��ý 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 �鶹��ý 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.

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