Dillard places first in National HBCU Stock Market Challenge
Dr. Kristen Broady, dean of Dillard's College of Business. Photo: Sabree Hill/Dillard
By Eddie Francis, email@example.com
June 9, 2020
NEW ORLEANS – Dillard placed first in the National HBCU Stock Market Challenge. The announcement was made by the National HBCU Business Deans Roundtable. The University’s victory was based on an audit of the portfolio that was submitted for the tournament. Based on the Dillard’s average return of 12.91%, the University won a year’s license to StockTrak’s Personal Finance Service which is valued at $2,995.
Five student winners were announced and Dillard’s Jalen Adams placed second in the StockTrak student portfolio and Personal Finance Lessons challenge. Adams, a junior business administration major, was awarded $1,500 after posting a 25.82% return on his portfolio.
Dr. Kristen Broady, dean of the College of Business, is especially pleased with the win. “I am overjoyed that Dillard University won overall first place based on the highest average portfolio value and I am so proud of Jalen Adams.” Broady also noted that this type of competition provides a platform for the college and students to showcase their skills. “This challenge motivated the students who participated to learn more about stock trading, budgeting, credit and debt management, among other financial topics,” she added.
The competition was free to students from all HBCUs and participants started with a virtual cash amount of $100,000. Designed to educate students about financial literacy, savings and investing, the participants were then challenged to trade U.S. stock, exchange-traded funds (ETFs) mutual funds and bonds. In addition to StockTrak’s Personal Finance Lessons, participants had access to an investment database by FactSet. Participants also had to complete a series of financial literacy assignments.
Over 60 HBCUs are members of the National HBCU Business Deans Roundtable. The collection of leaders addresses “opportunities and challenges associated with enhancing business programs and initiatives” at HBCUs according to their mission. The Roundtable also pursues strategic partnerships while finding ways to develop HBCU business school deans.
StockTrak provides “virtual trading applications for universities, high schools, corporations and the general public” according to their website. FactSet, Rise Display and Harris-Stowe State were also sponsors of the National HBCU Stock Market Challenge.