WisdomTree Shares Up 100% This Year
May 6th, 2013 at 1:07pm by John Spence
WisdomTree Investments (NasdaqGM: WETF) shares have doubled this year as the firm’s specialized fund for Japan leads all ETF sales.
WisdomTree Japan Hedged Equity (NYSEArca: DXJ) has reeled in a remarkable $5.7 billion of inflows in 2013, raising total assets to about $7.8 billion.
During the company’s April 26 first-quarter earnings call, CEO Jonathan Steinberg said WisdomTree’s assets were up 50% year to date to a record $27.6 billion. Net income increased more than 600% from the year-ago quarter to $7.9 million. The company employs 72 people.
“In one quarter alone, this was our best year ever,” Steinberg noted. [A Stock Play for the Growing ETF Business]
“WisdomTree continues to compete very effectively against the established giants in the ETF industry,” he added.
The company’s shares were trading hands at $12.24 a share on Monday afternoon, up from the 2012 closing price of $6.12.
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