ETFS Capital Limited, in conjunction with Graham Tuckwell, reported a significant sale of WisdomTree, Inc. (NYSE:WT) shares. On December 2, the entities sold 3 million shares at an average price of $11.34 per share, totaling $34.02 million. The sale comes as WisdomTree's stock has shown remarkable strength, delivering a 74% return over the past year. According to InvestingPro data, the company's stock is trading near its 52-week high of $12.45. Post-transaction, ETFS Capital retains ownership of 12.25 million shares. Tuckwell, as the controlling shareholder of ETFS, is considered an indirect beneficial owner of these shares. The stake remains significant in the $1.62 billion market cap company, which InvestingPro analysis shows maintains strong financial health with a "GREAT" overall score. Get access to 8 more exclusive InvestingPro Tips and comprehensive analysis in the Pro Research Report.
In other recent news, WisdomTree Investments (NYSE:WT) reported significant financial growth for Q3 2024. Despite facing $2.4 billion in outflows, primarily from the DXJ and USFR products, the firm's Assets Under Management (AUM) hit a record high of $112.6 billion. Adjusted revenues saw a substantial increase of 20.5% year-over-year, reaching $109.4 million. The company engaged in strategic capital management actions, including the repurchase of $144 million of preferred stock and the issuance of $240 million in convertible notes at a lower interest rate.
In the course of recent developments, WisdomTree launched two tokenization platforms, WisdomTree Prime and WisdomTree Connect, to enhance its blockchain-enabled finance offerings. The company's adjusted net income for the quarter was $28.8 million, or $0.18 per share, with an operating margin of 34.3%. WisdomTree's new quality growth ETF, QGRW, attracted approximately $0.5 billion in assets and outperformed the NASDAQ.
Looking forward, the company intends to focus on global product development, portfolio solutions, and digital asset functionality in 2025. WisdomTree also plans to continue investing in operational efficiencies and is optimistic about the early stages of their models business, expecting increased adoption by financial advisors.
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