Lombard Odier Asset Management USA Corp purchased a new position in shares of United States Brent Oil Fund LP (NYSEARCA:BNO – Free Report) in the 1st quarter, Holdings Channel reports. The fund purchased 16,413 shares of the company’s stock, valued at approximately $854,000.
A number of other large investors have also modified their holdings of BNO. Ball & Co Wealth Management Inc. bought a new stake in United States Brent Oil Fund in the 1st quarter valued at about $56,000. Midwest Trust Co bought a new position in United States Brent Oil Fund in the 1st quarter worth about $216,000. Kestra Advisory Services LLC bought a new position in United States Brent Oil Fund in the 4th quarter worth about $149,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of United States Brent Oil Fund by 60.7% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 6,654 shares of the company’s stock valued at $194,000 after purchasing an additional 2,514 shares during the period. Finally, Cetera Investment Advisers acquired a new stake in shares of United States Brent Oil Fund in the first quarter valued at approximately $448,000.
United States Brent Oil Fund Stock Down 1.6%
Shares of United States Brent Oil Fund stock opened at $52.58 on Friday. United States Brent Oil Fund LP has a 1-year low of $27.14 and a 1-year high of $60.81. The business’s fifty day moving average price is $47.82 and its two-hundred day moving average price is $44.16.
Key Headlines Impacting United States Brent Oil Fund
- Positive Sentiment: Escalating conflict in the Middle East and attacks on shipping lanes in the Red Sea and near the Strait of Hormuz are raising fears of supply disruption, which has lifted Brent prices and could continue to support BNO. Oil prices rise to six-week high as US-Iran tensions escalate
- Positive Sentiment: Physical crude markets are tightening, with some regional cargoes nearing $110 a barrel, suggesting strong near-term pricing that can benefit the fund if Brent stays elevated. Physical oil prices jump with some nearing $110 as Iran, Ukraine wars hit supply
- Neutral Sentiment: Oil has been extremely volatile, with some reports noting a technical pullback and profit-taking after Brent briefly topped $100, which may cap upside in the short term. Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Retreats 4% On Profit-Taking
- Neutral Sentiment: At the same time, hopes for peace talks and the possibility of an off-ramp between the U.S. and Iran have pressured oil off its highs, which could weigh on BNO if tensions ease further. U.S. Stocks Stabilize as Oil Retreats on Peace Talk Hopes
- Neutral Sentiment: Some analysts are warning that OPEC+ may raise output targets, which could eventually add supply and limit further oil-price gains. OPEC+ likely to raise oil output targets from September again, sources say
United States Brent Oil Fund Company Profile
The United States Brent Oil Fund, LP (BNO) is an exchange-traded fund that is based on the Front Month Brent Crude Oil index. The fund tracks the Brent oil spot price using near-month ICE futures contracts. BNO was launched on Jun 2, 2010 and is managed by US Commodity Funds.
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Want to see what other hedge funds are holding BNO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for United States Brent Oil Fund LP (NYSEARCA:BNO – Free Report).
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