Venture-backed stocks move upward in April

The Thomson Reuters’ Post-Venture Capital Index (PVCI) gained nearly 30 points to end April at 1106.28, a .0027 percent gain from the 1076.77 mark at the end of March.

The April month ending index value stands more than 140 points above the 966 mark to start the year.

In comparison, the Nasdaq and S&P also moved upwards in April, with the Nasdaq ending April up more than 40 points and the S&P gaining 10 points.

At the end of April, the PVCI was comprised of 357 companies. Of the stocks tracked, 185 advanced in value during the month while 172 declined. The number of companies in the index rises and falls, depending on new issues or as the companies fold or are acquired. Also, companies remain in the index for only 10 years.

A total of 54 of the advancing stocks at the end of April were in computer software and services. Biotech saw 29 companies advance. The largest group of decliners was also in biotech with 47.

Facebook, as it typically does each month, ranked as the company with top market value, as of April 28, followed by Tesla and Kinder Morgan.

The PVCI measures the performance of public stocks, tracking venture-backed companies beginning at the time when they go public.

The index is calculated daily and does not take into account dividends.

It began in January 1986 with an initialized index value of 100.

Monthly Index (April 2016 – April 2017)PVCI vs. Nasdaq and S&P500

Download Data: PVCI as of April 28, 2017

Photo of Wall Street sign in New York, courtesy of Reuters/Mike Segar