Providence College Athletics

Providence College Finishes Fourth In Tucker Anthony Stock Portfolio Challenge

Providence College Finishes Fourth In Tucker Anthony Stock Portfolio Challenge

PC Students Earn $5,000 For School's Scholarship Fund

March 12, 1999

Providence, R.I. - What do Wall Street and college basketball have in common? At first glance you might say nothing. But Tucker Anthony, the official investment brokerage firm of the BIG EAST Conference would like to change your thinking.

Through Tucker Anthony's sponsorship of the BIG EAST, a stock portfolio competition which pitted teams of athletes and business students from BIG EAST schools against each other to win valuable scholarship funds.

Funds were earned through three-point shots made by BIG EAST players throughout the regular basketball season. With every three-pointer, Tucker Anthony donated $50 to a scholarship prize purse. Under the guidance of Owen Devine, Chris Stuckus and Demetrios Manthous, local Tucker Anthony investment executives who acted as coaches, the PC team of Erron Maxey (Sophomore, Basketball), Jon Coe (Senior, Hockey), Troy Lake (Senior, Hockey), Meghan Hinds (Junior, Women's Basketball) and Allison Rubin (Junior) were given a hypothetical $250,000 in a stock portfolio that they could change as they wished during the season.

The Friars team came in fourth as their investments earned a return of 41.38% which earned them $5,000 for Providence College's general scholarship fund. Finishing ahead of PC was the University of Pittsburgh with a 90.6% return, the University of Connecticut with a 67.37% return and Georgetown with a 53.44% return. The University of Pittsburgh team won the big prize of $25,000 and were presented at the BIG EAST Tournament which ran from March 3 through March 6 at Madison Square Garden.

"Throughout the course of the second annual BIG EAST Stock Challenge, the investment knowledge gained by the student teams, coupled with the fun their advisors had teaching them, makes all the participants winners," said Deputy Stock Challenge Commissioner Travis Coley of Tucker Anthony's One World Financial Center office in New York.

In all, Tucker Anthony provided $95,000 in scholarship funds to the 13 BIG EAST schools through the Tucker Anthony BIG EAST Stock Challenge.