The United States Brent Oil Fund, LP (NYSE Arca:BNO), a Delaware-incorporated investment fund, disclosed its monthly financial statements for July 2024 today, revealing its performance and changes in net asset value.
In a regulatory filing with the Securities and Exchange Commission dated Wednesday, the fund provided a snapshot of its financial status as required under the Commodity Exchange Act. The statement includes a detailed Statement of Income (Loss) and a Statement of Changes in Net Asset Value for the month ended July 31, 2024.
The fund's monthly account statement is now available on the United States Commodity Funds LLC website, which serves as the general partner of the United States Brent Oil Fund, LP. This disclosure is in line with Regulation FD, which ensures that all investors have access to key financial information simultaneously.
It is important to note that the information provided in this filing, including the accompanying Exhibit 99.1, is not considered "filed" for purposes of the Securities Exchange Act of 1934. Consequently, it will not be subject to the same legal liabilities as other filed documents.
Additionally, the content is not to be incorporated by reference into any filings under the Securities Act of 1933, unless explicitly stated in those filings.
The United States Brent Oil Fund, LP, with its business address at 1850 Mt. Diablo Boulevard, Suite 640, Walnut Creek, California, is managed by its general partner, United States Commodity Funds LLC. The fund's primary investment objective is to provide exposure to the price movements of Brent crude oil, as measured by the changes in the price of Brent crude oil futures contracts traded on the ICE (NYSE:ICE) Futures Exchange.
Today's filing was signed by Stuart P. Crumbaugh, the Chief Financial Officer of United States Commodity Funds LLC, affirming the accuracy of the report. The United States Brent Oil Fund, LP trades under the ticker BNO on the NYSE Arca exchange.
"In other recent news, the United States Brent Oil Fund has disclosed its financial performance for the months of May and June 2024. These financial disclosures include a Statement of Income (Loss) and a Statement of Changes in Net Asset Value.
The reports, following Rule 4.22 under the Commodity Exchange Act, offer comprehensive information on the fund's income, losses, and changes in net asset value for both months.
These financial results, available on the fund's website, provide transparency to investors and market participants. It is important to note that the information in these reports is not considered 'filed' for regulatory purposes and is not subject to the liabilities of Section 18 of the Securities Exchange Act of 1934.
The filings were signed by Stuart P. Crumbaugh, the Chief Financial Officer of United States Commodity Funds LLC, the general partner of the fund. These are among the recent developments concerning the United States Brent Oil Fund."
InvestingPro Insights
The recent financial statements of the United States Brent Oil Fund, LP (NYSE Arca:BNO) reflect its ongoing performance in the commodities market. To complement the fund's monthly disclosures, current InvestingPro Data shows a mixed picture of its recent market performance. As of the latest data, BNO has experienced a 1-week price total return of 4.32%, indicating a recent uptick in investor confidence. However, the fund's 1-month and 3-month price total returns show slight declines of -0.33% and -2.73%, respectively. On a more positive note, the year-to-date (YTD) price total return stands at an impressive 12.19%, highlighting a strong performance so far this year.
Investors should also consider the InvestingPro Tips for BNO, which point out that the fund suffers from weak gross profit margins and a valuation that implies a poor free cash flow yield. Additionally, BNO does not pay a dividend to shareholders, which is a critical consideration for income-focused investors. These insights can be valuable for assessing the fund's potential fit within an investment portfolio. For a more comprehensive analysis, there are additional InvestingPro Tips available at Investing.com/pro/BNO.
With a market capitalization of $220.61M, BNO is a medium-sized player in the investment fund sector. Its performance relative to the 52-week high is currently at 90.36%, suggesting that its share price is nearing the upper range of its yearly fluctuation. The average daily volume over the past three months approximates 0.42M USD, which provides a sense of the liquidity and investor interest in the fund.
For those considering an investment in BNO or seeking to understand its recent market dynamics, these InvestingPro Insights can serve as a valuable tool for making informed decisions.
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