Welcome to our dedicated page for US Global Investors news (Ticker: GROW), a resource for investors and traders seeking the latest updates and insights on US Global Investors stock.
U.S. Global Investors, Inc. (NASDAQ: GROW) is an innovative investment manager with a deep-seated history in global markets and specialized sectors. Founded in 1968 as an investment club, it transformed into a registered investment adviser and has since pioneered first-of-their-kind investment products. Headquartered in San Antonio, Texas, U.S. Global Investors is publicly traded on NASDAQ.
The company’s core expertise lies in gold and precious metals, natural resources, and emerging markets. Led by CEO Frank Holmes since 1989, the firm offers investment advisory services to its own funds and ETFs. Notably, it manages the U.S. Global GO GOLD and Precious Metal Miners ETF (NYSE: GOAU) and U.S. Global Jets ETF (NYSE: JETS), which are prominent products in their respective markets.
In recent developments, U.S. Global Investors announced a positive outlook for airlines and gold sectors as of the end of 2023, reflecting rising air travel during the Thanksgiving period and a strong uptick in gold prices due to economic uncertainties. The U.S. Global Jets ETF saw a notable increase in net inflows, while the gold market responded well to geopolitical tension and monetary policies.
Financial Condition: As of the latest quarterly report, the company had a net working capital of approximately $38.6 million and total assets of $54.1 million. The company derives all its revenue from investment management services, and its latest earnings report highlighted a significant increase in net investment income.
Recent corporate actions include the company's strategic share buyback program, under which it repurchased a considerable number of its own shares, reflecting a commitment to returning value to shareholders. Moreover, the company has a history of maintaining a robust shareholder yield, combining dividends and share repurchases.
U.S. Global Investors also expanded its product reach by listing the GOAU ETF on Peru’s Bolsa de Valores de Lima, enhancing its global footprint. Another notable achievement was the merger of its Europe-domiciled airlines ETF into the Travel UCITS ETF (TRIP), broadening its investment scope to include the cruise industry, which has shown strong post-pandemic recovery.
With a diversified portfolio, a history of innovative product launches, and a solid financial footing, U.S. Global Investors continues to leverage its expertise to navigate and capitalize on market opportunities.
U.S. Global Investors (NASDAQ: GROW) announces the continuation of its monthly dividends at $0.0075 per share from July to September 2024. The annualized yield is 3.46% based on the June 12, 2024 closing price of $2.60. The company has also significantly increased its share buybacks, purchasing 59,891 shares in May 2024, a 45% rise from the previous year. This move underscores the firm's commitment to shareholder value. Additionally, the surge in gold prices has boosted interest in U.S. Global Investors' gold-themed products. The International Air Transport Association (IATA) has upgraded profitability projections for airlines in 2024 to $30.5 billion, benefiting the company's airline-focused ETF. Elliot Management has also invested nearly $2 billion in Southwest Airlines, a top holding in U.S. Global Investors' ETF.
U.S. Global Investors, Inc. reported resilient results for the challenging March quarter, with operating revenues of $2.6 million. Despite a decrease in advisory fees, lower investment income, and AUM, the Company maintained a shareholder yield of 8.32%. Quarterly share repurchases increased 9.4% year-over-year. The merger of London-listed JETS with TRIP is expected to increase AUM fivefold, solidifying the Company's position in thematic investing. The surge in gold prices and central bank demand positively impact GOAU. The Company's healthy liquidity and capital resources position it well to meet obligations.
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