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U.S. Global Investors Announces the Launch of the U.S. Global Sea to Sky Cargo ETF (SEA)
San Antonio, TX, Jan. 19, 2022 (GLOBE NEWSWIRE) -- U.S. Global Investors, Inc. (Nasdaq: GROW) (“the Company”), a registered investment advisory firm that
About this update from U.s. Global Investors, Inc.
[{"type":"text","content":"San Antonio, TX, Jan. 19, 2022 (GLOBE NEWSWIRE) -- U.S. Global Investors, Inc. (Nasdaq: GROW) (“the Company”), a registered investment advisory firm that focuses on specialized markets around the world, is excited to announce that its U.S. Global Sea to Sky Cargo ETF (SEA) will begin trading tomorrow, January 20, on the New York Stock Exchange (NYSE). SEA seeks to provide diversified access to the global sea shipping and air freight industries. Consisting of common stocks listed on developed and emerging market exchanges across the globe, the ETF uses a smart-beta 2.0 strategy to determine the most efficient sea shipping and air freight companies in the world. Cargo ships represent approximately 70% of the ETF, while air freight companies represent roughly 30%. SEA is the Company’s third ETF following the U.S. Global Jets ETF (JETS), launched in April 2015, and U.S. Global GO GOLD and Precious Metal Miners ETF (GOAU), launched in June 2017. SEA represents a fusion of the Company’s longstanding experience investing in the global resources and commercial air travel industries. Frank Holmes, the Company’s CEO and chief investment officer, says this could be an attractive time for investors to consider the shipping industry. “After years of boom-and-bust cycles, container shipping companies today appear to have benefited greatly from favorable pricing power,” Mr. Holmes says. “At the same time that global demand has rocketed back to pre-pandemic levels much sooner than anticipated, shipping companies have exercised capacity growth discipline, as too many vessels and routes could oversaturate the market. Consequently, shipping rates have remained highly elevated through the end of 2021. The average global rate to ship a 40-foot container stood at nearly $9,300 in December 2021, a threefold increase from the same month a year earlier, according to data provided by freight marketplace operator Freightos.” Mr. Holmes is also the Executive Chairman of HIVE Blockchain Technologies, Inc. (“HIVE”), a Canadian crypto-mining company that depends on global shipping for its mining hardware. “In the past year, HIVE has spent millions of dollars on application-specific integrated circuit (ASIC) miners, all of them shipped from China,” Mrs. Holmes says. “This is the kind of first-hand experience that helped inspire the idea for SEA.” Besides conta...