U.S. Global Investors, Inc. (NASDAQ: GROW) (the “Company”), a
registered investment advisory firm with longstanding experience in
global markets and specialized sectors, is happy to share the
launch of its third exchange traded fund last week, adding to its
lineup of thematic ETFs. The U.S. Global Sea to Sky Cargo ETF began
trading on January 20, 2022, on the New York Stock Exchange, under
the ticker symbol SEA.
SEA uses a smart-beta 2.0 strategy and represents a fusion of
the Company’s longstanding experience investing in global resources
and commercial air travel industries. Cargo ships represent
approximately 70% of the ETF, while air freight companies represent
roughly 30%.
Frank Holmes, the Company’s CEO and chief investment officer,
believes the shipping industry continues to look very attractive
from an investing point of view.
“Global cargo carriers are estimated to have recorded $150
billion in profits in 2021, the first time they’ve collectively
reached that figure in a single year,” Mr. Holmes says. “Not only
that, to give you an idea of just how cash-flush shipping companies
are right now, employees of Chinese state-owned COSCO Shipping, one
of our favorite industry names, were paid a jaw-dropping year-end
bonus that was 30 times their monthly salary, according to Caixin
Global.”
To learn more about the SEA ETF, we invite you to visit
www.usglobaletfs.com, or watch this short video clip that reviews
why we continue to be bullish on the industry.
U.S. Global Announces Amendment to Its Form 10-Q For
Quarter Ended September 30, 2021
The Company today announces an amendment, but not a restatement,
to its Quarterly Report on Form 10-Q for the quarter ended
September 30, 2021.
On the original filing, which was filed with the Securities and
Exchange Commission on January 11, 2022, the Advisory fees amount
of $6,470,000 did not appear on the face of the Consolidated
Statements of Operations. The subtotals correctly included the
advisory fees amount and the amount was properly disclosed in the
Notes to Consolidated Financial Statements. The amendment includes
the Advisory fees amount that was inadvertently excluded from the
Consolidated Statement of Operations in the original
filing.
Total operating revenues, net income, and basic and diluted net
income per share are not impacted by the Amendment. To read the
original press release documenting the financial results from the
September 30, 2021 quarter, please click here or visit
www.usfunds.com.
####
About U.S. Global Investors, Inc.
The story of U.S. Global Investors goes back more than 50 years
when it began as an investment club. Today, U.S. Global Investors,
Inc. (www.usfunds.com) is a registered investment adviser that
focuses on niche markets around the world. Headquartered in San
Antonio, Texas, the Company provides money management and other
services to U.S. Global Investors Funds and U.S. Global ETFs.
Forward-Looking Statements and Disclosure
This news release and other statements by U.S. Global Investors
may include certain “forward-looking statements,” including
statements relating to revenues, expenses and expectations
regarding market conditions. You can identify these forward-looking
statements by the use of words such as “outlook,” “believes,”
“expects,” “potential,” “opportunity,” “seeks,” “anticipates” or
other comparable words. Such statements involve certain risks and
uncertainties and should be read with corporate filings and other
important information on the Company’s website, www.usfunds.com, or
the Securities and Exchange Commission’s website at
www.sec.gov.
These filings, such as the Company’s annual report and Form
10-Q, should be read in conjunction with the other cautionary
statements that are included in this release. Future events could
differ materially from those anticipated in such statements and
there can be no assurance that such statements will prove accurate
and actual results may vary. The Company undertakes no obligation
to publicly update or review any forward-looking statements,
whether as a result of new information, future developments or
otherwise.
Please consider carefully a fund’s investment objectives, risks,
charges and expenses. For this and other important information,
obtain a statutory and summary prospectus by
visiting www.usglobaletfs.com. Read it carefully before
investing.
Investing involves risk, including the possible loss of
principal. Shares of any ETF are bought and sold at market price
(not NAV), may trade at a discount or premium to NAV and are not
individually redeemed from the fund. Brokerage commissions will
reduce returns. Because the fund concentrates its investments in
specific industries, the fund may be subject to greater risks and
fluctuations than a portfolio representing a broader range of
industries. The fund is non-diversified, meaning it may concentrate
more of its assets in a smaller number of issuers than a
diversified fund. The fund invests in foreign securities which
involve greater volatility and political, economic and currency
risks and differences in accounting methods. These risks are
greater for investments in emerging markets. The fund may invest in
the securities of smaller-capitalization companies, which may be
more volatile than funds that invest in larger, more established
companies. The performance of the fund may diverge from that of the
index. Because the fund may employ a representative sampling
strategy and may also invest in securities that are not included in
the index, the fund may experience tracking error to a greater
extent than a fund that seeks to replicate an index. The fund is
not actively managed and may be affected by a general decline in
market segments related to the index. Airline companies may be
adversely affected by a downturn in economic conditions that can
result in decreased demand for air travel and may also be
significantly affected by changes in fuel prices, labor relations
and insurance costs.
Smart beta refers to a type of exchange-traded
fund (ETF) that uses a rules-based system for selecting
investments to be included in the fund portfolio.
Distributed by Quasar Distributors, LLC. U.S. Global Investors
is the investment adviser to SEA.
Holly Schoenfeldt
U.S. Global Investors, Inc.
210.308.1268
hschoenfeldt@usfunds.com
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