U.S. Global Investors Announces Share Buyback Numbers for December 2023; Provides an Update on Competitive Year-End Performance for Quant Gold ETF

San Antonio, TX, Jan. 12, 2024 (GLOBE NEWSWIRE) -- U.S. Global Investors, Inc. (NASDAQ: GROW) (the “Company”), a registered investment advisory firm with longstanding experience in global markets and specialized sectors, today is pleased to announce that it repurchased 93,907 of its own shares in December 2023, at a net cost of almost $272,000. This is slightly more than twice the number of shares that the Company repurchased the previous month and the same month a year earlier.

“The Company believes its stock is undervalued and therefore buys back shares of GROW stock when the price is flat or down from the previous trading day,” says Frank Holmes, the Company’s CEO and Chief Investment Officer. “In last year’s letter to shareholders, Warren Buffett highlighted the value proposition of buying back one’s own stock at ‘value-accretive prices.’ Doing so, Buffett says, benefits all shareholders, not just the biggest holders. We agree.”

A Strong 2023 for GOAU, the Smart-Beta 2.0 Gold Equities ETF

The Company is also pleased to announce that its gold equity ETF, the U.S. Global GO GOLD and Precious Metal Miners ETF (NYSE: GOAU), ended 2023 in the top decile among 69 Equity Precious Metals funds for the 12-month period, according to Morningstar data. These results are based off of total return and net asset value (NAV).

“I couldn’t be happier with how well GOAU performed in 2023 relative to its peers,” Mr. Holmes continues. “The fund is based on approximately 10,000 hours of research to create its unique model and approach to investing in gold equities. As designed, GOAU is a rigorous and robust, smart-beta 2.0, quant-based ETF, meaning it combines passive investing with characteristics that some investors might associate with active investing. Unlike many of its peers, for example, GOAU is highly selective about what companies are included. Every quarter, we use quantitative stock-picking factors to help select high-quality gold stocks, which we rank based not just on market cap but also on financial value factors. Whenever a company dilutes these factors, it’s kicked out of the ETF. GOAU rebalances and reconstitutes each quarter.”