Invesco CurrencyShares Euro Trust reported its financial results for the three and nine months ended September 30, 2024, highlighting significant changes in its performance compared to the previous fiscal period. As of September 30, 2024, the Trust's total assets amounted to $190.9 million, a decrease from $219.8 million as of December 31, 2023. Total liabilities also saw a substantial decline, dropping to $60,547 from $225,988 in the prior period. The value of redeemable capital shares at redemption was $190.8 million, down from $219.6 million at the end of 2023.
Total income for the three months ended September 30, 2024, was reported at $1.1 million, a decrease from $1.5 million in the same period of 2023. However, total income for the nine months ended September 30, 2024, increased slightly to $3.8 million from $3.8 million in the previous year. Net comprehensive income for the three months ended September 30, 2024, was $940,117, down from $1.2 million in 2023, while for the nine-month period, it rose to $3.2 million from $2.9 million in the prior year.
Earnings per share for the three months ended September 30, 2024, were $0.54, compared to $0.51 in 2023. For the nine months, earnings per share increased to $1.70 from $1.10. The Trust's distributions per share for the three months ended September 30, 2024, were $0.54, up from $0.50 in the same period of 2023, while total distributions paid for the three months decreased to $946,519 from $1.2 million.
The Trust's cash position also reflected changes, with cash at the end of the nine-month period standing at $190.5 million, down from $229.6 million in 2023. Net cash provided by operating activities increased to $3.5 million from $2.6 million, while net cash used in financing activities improved to $(27.8 million) from $(57.6 million).
The Trust's investment strategy remains focused on reflecting the price of the euro in U.S. dollars, with its assets primarily held in euro deposits. The interest rate for euro principal deposits was 2.30% annually as of September 30, 2024. The Trust is managed by Invesco Specialized Products, LLC, with The Bank of New York Mellon serving as the Trustee. The Trust does not engage in derivative investments, limiting its market risk primarily to fluctuations in the euro to USD exchange rate.
About Invesco CurrencyShares Euro Trust
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