Distilled Spirits Council CEO Naasz Joins WSKY ETF in Ringing NYSE Closing Bell
On a day when the Dow inched closer to 20,000, Distilled Spirits Council President & CEO Kraig R. Naasz toasted the new WSKY ETF and joined in ringing the closing bell at the New York Stock Exchange (NYSE).
“With spirits sales booming in both the United States and around the world, it seems fitting that we celebrate a new whiskey themed exchange-traded fund (ETF) as the stock market reaches toward historic heights,” said Naasz.
Spirited Funds/ETFMG Whiskey and Spirits ETF, trading as WSKY, invests primarily in companies that derive the majority of their revenue from producing and marketing whiskey and spirits. Council member companies included in the fund are Brown-Forman, Campari, Constellation Brands, Diageo, MGP Ingredients, Moët Hennessy, Pernod Ricard and Rémy Cointreau.
Sales are flourishing for high-end premium and super-premium bourbon and Tennessee whiskey in the United States with sales increasing 50 and 155 percent, respectively, from 2010 to 2015. Exports of U.S. spirits were up 4 percent last year – with U.S. whiskey exports up an impressive 5.4 percent. In total, U.S. spirits retail sales have grown to more than $60 billion.
“The spirits sector is currently enjoying the busiest shopping season of the year,” said Naasz. “As we ring in the holiday season, we encourage consumers to enjoy themselves responsibly,” Naasz concluded.