Bob Pisani, CNBC correspondent, commented on the U.S. Global Jets ETF (JETS) on December 2, 2020. Noting that the airline sector performed strongly for the day, Pisani highlights the massive growth in the trading volume and assets under management of JETS so far in 2020.
Year-to-date through December 2, 2020, JETS was down 27.85%. The fund crossed above $1 billion in assets on June 2 – after starting 2020 with just above $33 million – and was nearing $3 billion in assets at the time of the CNBC clip.
Read an excerpt from the segment:
“And even though [JETS is] down, compared to where it was in February, it’s had quite a climb back. The amount of stock that has been created around this out of interest in airline trading has been huge in the last couple of months. Really one of the big winners in the ETF space this year.”
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U.S. Global Investors has authored and is responsible for the summary on this page. All opinions expressed and data provided are subject to change without notice. Opinions are not guaranteed and should not be considered investment advice. 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.