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 (GROW) reported strong financial results for the quarter ended September 30, 2020. Total operating revenues reached $3.2 million, a 73% increase from the prior quarter and a 300% rise year-over-year. The company achieved a net income of $1.9 million, equating to $0.13 per share, marking its best performance since 2011. Average assets under management (AUM) rose to $2.0 billion, a 61% quarterly increase and nearly 290% yearly. The U.S. Global Jets ETF (JETS) also exceeded 100 million shares outstanding, reflecting investor confidence.
U.S. Global Investors, Inc. (GROW) will conduct a webcast on November 6, 2020, at 7:30 a.m. Central Time to discuss its first-quarter 2021 financial results. Financial data will be released ahead of the webcast, where CEO Frank Holmes will share insights on the company's profitability and the strong performance of investment products. CFO Lisa Callicotte will present key financial highlights for the quarter ending September 30, 2020, and Marketing Manager Holly Schoenfeldt will outline the company's media strategy.
U.S. Global Investors (NASDAQ: GROW) announced the continuation of its monthly dividend of $0.0025 per share for Q2 2021, a practice ongoing since June 2007. As of June 30, 2020, the company’s assets under management (AUM) surged to $1.7 billion, now exceeding $2.2 billion, largely driven by the U.S. Global Jets ETF. Operating margins expanded to 30% due to reduced marketing costs relative to revenue. The firm also tracks air travel data, indicating recovery in the airline sector, which may positively influence JETS ETF performance.
U.S. Global Investors (GROW) reported a fiscal year 2020 net loss of $4.7 million, or $0.31 per share, compared to a loss of $3.4 million, or $0.22 per share, the previous year. Operating revenues increased to $4.5 million, up from $3.5 million, despite rising operating expenses of $6.9 million. The total assets under management surged over threefold to $1.7 billion, boosted by inflows into its ETFs, particularly the U.S. Global Jets ETF which reached $1.2 billion. The company maintains adequate liquidity with net working capital of $8.5 million and has repurchased shares while continuing dividends.
U.S. Global Investors, Inc. (GROW) announced a webcast on September 11, 2020, at 7:30 a.m. Central time to discuss fiscal year 2020 results. Financial data will be shared prior to the event. CEO Frank Holmes will update on assets under management and investment product performance. CFO Lisa Callicotte will overview the fiscal year financial highlights ending June 30, 2020. Marketing manager Holly Schoenfeldt will discuss the company’s press strategy. For more information, visit www.usfunds.com.
U.S. Global Investors, Inc. (GROW) announced that its U.S. Global Jets ETF (JETS) is now trading on multiple platforms at Morgan Stanley, effective August 17, 2020. This inclusion allows a wider range of investors access to JETS, which remains the only ETF providing comprehensive exposure to the global airline industry. The announcement follows a notable recovery in commercial air travel, with 863,000 flights recorded on August 16, marking a significant increase from pandemic lows. The ETF continues to gain traction as investors anticipate a potential COVID-19 vaccine.
U.S. Global Investors (GROW) announced that its airlines ETF, the U.S. Global Jets ETF (JETS), is now available for trading on Wells Fargo Advisors' platforms, effective August 4. This follows a similar approval by Citi Personal Wealth Management on July 20. CEO Frank Holmes noted a significant rise in air travel, with U.S. carriers screening nearly 800,000 passengers on August 2, a 9-fold increase from April lows. However, potential risks remain due to ongoing COVID-19 impacts, fuel prices, and economic downturns affecting airline demand.
U.S. Global Investors, Inc. (GROW) announced the successful approval of its airlines ETF, the U.S. Global Jets ETF (JETS), for trading on Citi’s platform, effective July 20. This follows JETS surpassing $1 billion in assets under management, attributed to increased investor interest during the pandemic. Additionally, the U.S. Global GO GOLD and Precious Metal Miners ETF (GOAU) recently hit an all-time high, fueled by rising gold prices above $1,840 an ounce. The firm's total assets under management climbed to $1.7 billion, a 157% increase from the previous quarter.
U.S. Global Investors (GROW) announced that its U.S. Global GO GOLD and Precious Metal Miners ETF (GOAU) has surpassed $100 million in assets under management (AUM) for the first time since its launch in June 2017. As of July 8, 2020, GOAU's AUM reached $100.5 million, while its share price closed at a record high of $22.35 for four consecutive trading sessions. The CEO emphasized that this milestone may improve GOAU's distribution opportunities with broker-dealers. The firm also highlighted the performance of its U.S. Global Jets ETF (JETS), which recently exceeded $1 billion in AUM.
U.S. Global Investors, Inc. (GROW) announced a strategic rebranding of its Holmes Macro Trends Fund, now named the Global Luxury Goods Fund (USLUX), effective July 1, 2020. This fund focuses on investing in non-essential luxury goods, which have historically outpaced sales growth compared to basic household products. The fund's benchmark will be the S&P Global Luxury Index, comprising 80 major companies in the luxury goods sector. The change aims to provide investors with better access to high-demand, discretionary markets.
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