United States Brent Oil Fund reports monthly financial statements from Investing.com

Today, the United States Brent Oil Fund, LP (NYSE Arca:BNO), a commodity exchange-traded product, disclosed its financial results for the month ended May 31, 2024. The fund released its monthly statement, which included an Income (Loss) statement and a statement of changes in net asset value.

The report, which is in accordance with Rule 4.22 of the Commodity Exchange Act, is available on the fund’s website at www.uscfinvestments.com. The United States Brent Oil Fund, which trades under the ticker symbol BNO, is designed to track price movements.

The financial statement details the fund’s performance over the past month, providing investors with information about the fund’s income, losses and changes in net asset value.

It is important to note that the information provided in the account statement is not considered to be “filed” for regulatory purposes and is not subject to the obligations under Section 18 of the Securities Exchange Act of 1934, nor is it incorporated by reference in any way. Securities Act of 1933, except as expressly set forth in such filings.

Publishing the fund’s financial results is a routine disclosure that provides transparency to investors and market participants, ensuring they have access to the latest fund performance data. This disclosure is based on a press release and does not imply any promotional content or subjective assessment of the fund’s market position or future prospects.

InvestingPro Insights

As investors digest the latest financial results from the United States Brent Oil Fund, LP (NYSE Arca:BNO), it’s worth noting some key indicators and insights that could shape their understanding of the fund’s position and performance. With a market cap of $127.55 million, BNO’s coverage of the commodities market is notable.

However, the absence of a P/E ratio suggests that profitability metrics may not be the primary lens through which to evaluate BNO. Conversely, analyzing price performance over different time frames can provide a clearer picture of its market movements.

Over the past six months, BNO has delivered a significant total price return of 17.5%, with an even more impressive year-to-date return of 18.24%. This momentum is further underscored by a 1-year total price return of 29.37%, placing the fund near its 52-week high at 94.75% of that value. These numbers highlight a strong recent performance that may attract the attention of investors looking to grow in the commodities sector.

However, potential investors should be aware of certain challenges highlighted by InvestingPro Tips. BNO suffers from poor gross profit margins and its valuation implies a low free cash flow yield, which could be a concern for those focused on financial health and future growth potential. In addition, BNO does not offer a dividend, which could deter income-focused investors.

For those considering an investment in BNO or wanting a deeper analysis, InvestingPro offers additional advice to guide your decision making. Use coupon code PRONEWS24 to get an additional 10% discount on an annual or bi-annual Pro and Pro+ subscription, providing access to a comprehensive set of information and data points tailored to improve your investment strategy. With more InvestingPro advice available, investors can make more informed decisions in the dynamic commodity market.

This article was generated with support from AI and reviewed by an editor. For more information, see T&C.