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Westwood Holdings Group, Inc. reported strong first quarter 2024 earnings, with various strategies beating benchmarks. The company launched two ETFs and saw a decrease in quarterly revenues. Comprehensive income was $2.3 million, with a cash dividend of $0.15 per share declared. Assets under management reached $17.2 billion, the highest in six years. CEO Brian Casey highlighted investments in new products and infrastructure to drive future growth.
Westwood Holdings Group (WHG) has announced the launch of the Westwood Salient Enhanced Energy Income ETF (NASDAQ: WEEI), the second ETF from the company. This new actively managed ETF aims to provide high distributable monthly income by combining dividend yield and options premiums from covered calls, while still offering potential equity appreciation within the energy sector. With a focus on current income and capital appreciation, WEEI offers exposure to a wide range of energy companies, including upstream, downstream, oil service, and integrated companies, presenting a diversified portfolio closely tied to commodity pricing. The ETF targets an annualized yield in the range of 6-8% annually, exceeding traditional energy ETFs' 3% yields, making it an attractive option for retail investors seeking both income and total return.
