Invesco CurrencyShares Euro Trust reported a net comprehensive income of $574,500 for the three months ended March 31, 2025, a decrease from $1,215,627 in the same period of 2024. The Trust's interest income also fell significantly, totaling $745,943 compared to $1,423,562 in the prior year. The basic and diluted earnings per share decreased to $0.32 from $0.58, reflecting the overall decline in revenue and profitability. Total expenses for the quarter were $171,443, down from $207,935 in the previous year, primarily due to a reduction in the sponsor's fee.
The Trust experienced notable changes in its share transactions, with a net increase of 600,000 shares, bringing the total to 2,350,000 shares outstanding as of March 31, 2025. This increase followed the purchase of 850,000 shares and the redemption of 250,000 shares during the quarter. The total redeemable capital shares rose to $234,444,950, up from $167,424,356 at the end of the previous fiscal period. The Trust's distributions to shareholders also decreased, with total distributions of $595,802 compared to $1,219,453 in the prior year.
Operationally, the Trust's cash position improved, with cash at the end of the period amounting to $229,225,019, compared to $199,288,526 a year earlier. The Trust's net cash provided by financing activities was $55,066,786, a significant turnaround from a net cash used of $10,843,720 in the same quarter of 2024. This change was driven by increased proceeds from share purchases, which totaled $79,694,054, compared to $25,171,414 in the previous year.
The Trust's performance was influenced by various market conditions, including fluctuations in the euro to USD exchange rate and macroeconomic factors such as U.S. recession concerns and geopolitical tensions. The interest rate paid by the Depository has also trended downward, currently at 1.50%, impacting the Trust's interest income. Looking ahead, the Trust anticipates that ongoing market volatility and changes in economic conditions will continue to affect its financial performance and the value of its shares. The Trust remains focused on its investment objective of reflecting the price of the euro in USD, while managing its operational expenses effectively.
About Invesco CurrencyShares Euro Trust
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