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Invesco CurrencyShares Euro Trust (FXE+1.38%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements showing euro deposits of $190,494,276 as of September 30, 2024, compared to $214,030,570 as of December 31, 2023. The decrease is attributed to euro principal redemptions exceeding deposits during the period.
Net comprehensive income for the three months ended September 30, 2024, was $940,117, compared to $1,218,240 in the same period of the previous year. The decrease is due to lower interest income.
The Trust reported total assets of $190,875,409 and total liabilities of $60,547 as of September 30, 2024. The liabilities mainly consist of accrued Sponsor's fees.
The Trust's net cash used in financing activities was $27,767,498 for the nine months ended September 30, 2024, primarily due to redemptions of redeemable capital shares.
The Trust's investment objective is to reflect the price in USD of the euro plus accrued interest, less expenses. The euro (EUR/USD) ended the third quarter of 2024 higher, supported by a weaker US dollar.
The Trust does not hold or use derivative products and does not engage in activities to profit from changes in the price of the euro.
The filing also reports no legal proceedings or material changes to risk factors from the previous annual report.
The Trust's internal controls over financial reporting were evaluated and found effective as of the end of the period covered by this report.
There were no changes in internal control over financial reporting that materially affected the Trust's internal control during the quarter ended September 30, 2024.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Invesco CurrencyShares Euro Trust quarterly 10-Q report dated November 7, 2024. To report an error, please email earnings@qz.com.