Today, the United States Brent Oil Fund, LP (NYSE Arca:BNO), a commodity exchange-traded fund, disclosed its monthly financial statement for September 2024. The report, as mandated by Commodity Exchange Act Rule 4.22, includes a Statement of Income (Loss) and a Statement of Changes in Net Asset Value.
The financial details, which are now available on the fund's website, illustrate the financial performance and net asset value changes over the past month. However, it is important to note that the information provided in the report and its accompanying Exhibit 99.1, as filed with the Securities and Exchange Commission (SEC), is not considered "filed" for regulatory purposes and is not incorporated by reference into any filings under the Securities Act of 1933.
The United States Brent Oil Fund is designed to track the movements of Brent crude oil prices and is a popular investment vehicle for those looking to gain exposure to the oil market. Its shares are traded on the NYSE Arca, providing investors with a transparent and accessible means to invest in the oil commodity market.
This SEC filing by the United States Commodity Funds LLC, the general partner of the United States Brent Oil Fund, LP, is part of routine regulatory disclosures that provide investors and the market with up-to-date financial information, ensuring transparency and compliance with the relevant exchange regulations.
Investors and interested parties are encouraged to review the full monthly account statement provided by the United States Brent Oil Fund, LP to understand the fund's financial position as of September 30, 2024. The statement is a key document for assessing the performance of the fund and making informed investment decisions.
This news is based on the latest 8-K filing by the United States Brent Oil Fund, LP with the SEC.
In other recent news, the United States Brent Oil Fund, managed by United States Commodity Funds LLC, has disclosed its monthly financial statements for June, July, and August 2024. These reports, available on the fund's website, provide a detailed Statement of Income (Loss) and a Statement of Changes in Net Asset Value, offering transparency to investors.
The United States Brent Oil Fund operates as a Delaware limited partnership, with its primary business address in Walnut Creek, California. These financial disclosures are in accordance with the Commodity Exchange Act, providing a regular update on the fund's financial status.
However, it's important to note that these reports are not considered 'filed' for regulatory purposes under Section 18 of the Securities Exchange Act of 1934 and are not subject to the act's liabilities. The United States Brent Oil Fund's performance is closely watched by investors interested in the oil market, as it offers exposure to Brent crude oil.
These disclosures are part of the fund's commitment to providing current and potential investors with timely financial information. The United States Commodity Funds LLC, the general partner of the United States Brent Oil Fund, has authorized the release of these financial reports, with Stuart P. Crumbaugh, the Chief Financial Officer, confirming the accuracy of the reports.
These are among the recent developments concerning the United States Brent Oil Fund, providing crucial information to investors.
InvestingPro Insights
To provide additional context to the United States Brent Oil Fund, LP's (BNO) monthly financial statement, let's examine some key metrics from InvestingPro. As of the latest data, BNO has a market capitalization of $113.84 million, reflecting its size in the commodity ETF space. The fund's price is currently at 83.01% of its 52-week high, indicating some room for potential growth if oil prices recover.
InvestingPro Tips highlight that BNO suffers from weak gross profit margins and its valuation implies a poor free cash flow yield. These factors may be important considerations for investors analyzing the fund's performance in relation to the broader oil market trends.
It's worth noting that BNO does not pay a dividend to shareholders, which aligns with its primary objective of tracking Brent crude oil prices rather than generating income. This characteristic is typical of many commodity-focused ETFs.
For those seeking a deeper analysis, InvestingPro offers 3 additional tips that could provide further insights into BNO's investment profile and market positioning.
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