Today, the United States Brent Oil Fund, LP (NYSE Arca:BNO), a commodity exchange-traded fund, disclosed its monthly financial statement for August 2024, detailing income, losses, and net asset value changes. This information, based on the latest 8-K filing with the Securities and Exchange Commission (SEC), is available on the fund's website.
The United States Brent Oil Fund, which operates as a Delaware limited partnership, is managed by United States Commodity Funds LLC. Its primary business address is in Walnut Creek, California, with a fiscal year ending on December 31.
The fund's monthly account statement includes a Statement of Income (Loss) and a Statement of Changes in Net Asset Value as mandated by Rule 4.22 under the Commodity Exchange Act. The 8-K filing ensures transparency and provides investors with a regular update on the fund's financial status.
It's important to note that the information provided in this filing, including the attached Exhibit 99.1, is not considered "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, nor is it subject to the act's liabilities. Additionally, the information should not be assumed to be incorporated by reference into any filings under the Securities Act of 1933 unless explicitly stated in such filings.
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. The fund's financial statements are a key resource for assessing its value and performance.
This disclosure is part of the fund's commitment to providing current and potential investors with timely financial information, as required by regulatory authorities. The United States Commodity Funds LLC, the general partner of the United States Brent Oil Fund, LP, has authorized the release of this financial report, with Stuart P. Crumbaugh, the Chief Financial Officer, signing off on the document dated today.
In other recent news, the United States Brent Oil Fund, LP disclosed its monthly financial statements for July and June 2024. These financial disclosures, available on the fund's website, offer a detailed Statement of Income (Loss) and a Statement of Changes in Net Asset Value. The United States Brent Oil Fund, managed by its general partner, United States Commodity Funds LLC, is providing these disclosures in accordance with the Commodity Exchange Act.
These filings, signed by the Chief Financial Officer of United States Commodity Funds LLC, Stuart P. Crumbaugh, confirm the accuracy of the reports. It should be noted that these reports are not considered 'filed' for regulatory purposes and are not subject to the liabilities of Section 18 of the Securities Exchange Act of 1934.
InvestingPro Insights
Recent data from InvestingPro sheds additional light on the United States Brent Oil Fund's (BNO) performance and financial health. As of the latest update, BNO's market capitalization stands at $216.95 million, reflecting its current position in the market. The fund has experienced a negative price trend across various timeframes, with a 1-month total return of -5.31% and a 3-month total return of -11.79%. This aligns with the broader context of oil market volatility that investors in BNO closely monitor.
InvestingPro Tips highlight some key aspects of BNO's financial profile. The fund suffers from weak gross profit margins, which could impact its overall performance. Additionally, the current valuation implies a poor free cash flow yield, suggesting potential challenges in generating cash relative to its market value. It's also worth noting that BNO does not pay dividends to shareholders, which may be a consideration for income-focused investors.
These insights provide valuable context to the monthly financial statement discussed in the article, offering a more comprehensive view of BNO's financial landscape. Investors interested in a deeper analysis can access additional tips and metrics through InvestingPro, which offers 3 more tips for BNO beyond those mentioned here.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.