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San Antonio, TX, Aug. 06, 2020 (GLOBE NEWSWIRE) -- U.S. Global Investors, Inc. (Nasdaq: GROW) (“the Company”), a boutique registered investment advisory firm that focuses on niche markets around the world, is pleased to announce that its airlines ETF, the U.S. Global Jets ETF (JETS), was approved to trade on Wells Fargo Advisors’ multiple trading platforms. The inclusion became effective Tuesday, August 4, making JETS available to even more investors. As of June 30, Wells Fargo’s advisory assets stood at $569 billion, client assets at $1.6 trillion, and there were a reported 13,298 financial advisors. Wheels up at Wells Fargo!
This is the second time in as many weeks that JETS has been approved to trade on a large brokerage platform, the other being Citi Personal Wealth Management, which occurred on July 20.
“JETS continues to be the premiere destination for investors seeking to gain exposure to the global commercial aviation industry, which includes not just airlines but also aircraft manufacturers and airport services companies,” commented Frank Holmes, the Company’s CEO and chief investment officer. “The global race to develop a reliable coronavirus vaccine is accelerating, and in the meantime, people are cautiously returning to the skies. The number of commercial air passengers on U.S. carriers rose to a post-pandemic high of just under 800,000 on August 2, according to the Transportation Security Administration (TSA). That’s a ninefold increase in passenger volume from the low set on April 14, when screenings totaled only 87,500. A year earlier, the number stood at 2.7 million passengers per day, so there’s still a lot of upside potential.
“It’s important to keep in mind that it’s in carriers’ best interest to maintain a clean, safe environment for travelers, especially now during the global pandemic,” Mr. Holmes continues. “According to travel advisory firm CarTrawler, each of the 25 leading carriers around the world has implemented some combination of measures intended to boost passengers’ confidence in the commercial flying experience. These measures include, but are not limited to, requiring face masks, taking temperatures and keeping the middle seat empty. I recently flew for business for the first time since February, on a nonstop Delta flight between San Antonio and Salt Lake City. The experience was excellent, and the jet was spotless. Before every flight, the cabin is fogged with disinfectant before a cleaning crew comes in to spray and wipe every surface.
“I believe the more aware passengers become of these precautions, the more willing they’ll be to fly, and ultimately this could be constructive for JETS,” Mr. Holmes says.
To learn more about the U.S. Global Jets ETF, click here.
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
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.
The outbreak of the COVID-19 pandemic and the resulting actions to control or slow the spread has had a significant detrimental effect on the global and domestic economies, financial markets and industries, including airlines. U.S. Global Investors continues to monitor the impact of COVID-19, but it is too early to determine the full impact this virus may have on commercial aviation. Should this emerging macro-economic risk continue for an extended period, there could be an adverse material financial impact to the U.S. Global Jets ETF.
Distributed by Quasar Distributors, LLC. U.S. Global Investors is the investment adviser to JETS.
All opinions expressed and data provided are subject to change without notice. Opinions are not guaranteed and should not be considered investment advice.
CONTACT: Holly Schoenfeldt U.S. Global Investors, Inc. 210.308.1268 email@example.com