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Index of VC-backed stocks drops slightly

What goes up is continuing to come down.

The Thomson Reuters’ Post-Venture Capital Index (PVCI), which reached record highs in early 2014, has fallen to its lowest point of the year.

The PVCI stood at 825.46 at the end of May, a drop of about 30 points from the month before. And it represented a 272.9 drop since the PVCI reached a peak of 1098.36 at the end of February.

At the end of May, the value of the PVCI was more than $1.6 quadrillion, a 1.6 percent rise in value from the month before.

The index was comprised of 568 companies, and of the stocks tracked, 288 gained in value while 280 declined.

What is the PVCI?

The PVCI tracks VC-backed stocks beginning at when they go public. It is a market-valued index that measures the performance of public stocks of companies that have raised financing.

Companies remain in the index for 10 years from the IPO date or until price data is no longer available, they are acquired or removed from a publicly traded exchange.

The index is calculated daily and does not take into account dividends. It began in January 1986 with an initialized index value of 100.