Short Interest in United States Brent Oil Fund LP (NYSEARCA:BNO) Grows By 48.4%

United States Brent Oil Fund LP (NYSEARCA:BNO) was the target of a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 1,820,723 shares, an increase of 48.4% from the July 15th total of 1,226,716 shares. Currently, 9.9% of the company’s stock are sold short. Based on an average daily trading volume, of 2,027,885 shares, the days-to-cover ratio is currently 0.9 days.

United States Brent Oil Fund Price Performance

Shares of NYSEARCA BNO opened at $52.32 on Thursday. The business has a 50 day simple moving average of $46.36 and a 200 day simple moving average of $46.70. United States Brent Oil Fund has a 52 week low of $27.14 and a 52 week high of $60.81.

Institutional Trading of United States Brent Oil Fund

Large investors have recently added to or reduced their stakes in the business. Ball & Co Wealth Management Inc. bought a new position in shares of United States Brent Oil Fund during the 1st quarter valued at $56,000. Kestra Advisory Services LLC acquired a new stake in shares of United States Brent Oil Fund in the 4th quarter valued at $149,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main boosted its holdings in 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 worth $194,000 after purchasing an additional 2,514 shares in the last quarter. Midwest Trust Co bought a new stake in United States Brent Oil Fund in the first quarter worth $216,000. Finally, Chemistry Wealth Management LLC acquired a new position in United States Brent Oil Fund during the second quarter worth $257,000.

More United States Brent Oil Fund News

Here are the key news stories impacting United States Brent Oil Fund this week:

• Positive Sentiment: Uncertainty over whether commercial shipping can safely transit the Strait of Hormuz has increased the risk of disruptions to global oil exports. Conflicting messages from Tehran and Washington have helped push oil higher for a fourth consecutive session. Oil edges up on uncertainty over exports through Hormuz
• Positive Sentiment: Oil prices are also being supported by fading hopes for a U.S.-Iran peace agreement. Iran’s tougher stance and the United States’ decision not to extend a ceasefire have raised concerns that regional tensions could threaten energy supplies. Oil climbs as fading US-Iran peace hopes raise supply risks
• Positive Sentiment: Russian oil exports from western ports reportedly fell to approximately 2.3 million barrels per day in the first half of August, 15% below the initial schedule, due partly to disruptions at Novorossiysk. Reduced near-term supply is supportive for Brent prices and BNO. Oil exports from Russia’s western ports drop 15% below plan
• Positive Sentiment: WTI and Brent are holding recent gains above key technical support levels, although analysts caution that Hormuz headlines and physical supply risks are likely to matter more than chart patterns in the near term. Crude Oil Price Analysis: Key Resistance Levels in Focus Amid Supply Risks
• Neutral Sentiment: Guyana says it is entitled to nearly 40% of production from a major ExxonMobil-led offshore oil project. The development could add future global supply, but its longer-term effect is less significant than current Middle East and Russian export risks. Guyana now entitled to nearly 40% of production from oil block
• Negative Sentiment: U.S. commercial crude inventories increased by 4.4 million barrels last week, marking a third consecutive weekly build. The unexpected accumulation signals softer domestic demand or ample supply and could limit further gains in Brent-related funds such as BNO. U.S. Crude Oil Stockpiles Post Weekly Increase

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.