United States Brent Oil Fund (NYSEARCA:BNO) Hits New 52-Week High – What’s Next?

Shares of United States Brent Oil Fund LP (NYSEARCA:BNO) hit a new 52-week high during trading on Wednesday. The stock traded as high as $71.43 and last traded at $71.38, with a volume of 558,890 shares. The stock had previously closed at $69.67.

United States Brent Oil Fund Trading Up 0.9%

The firm’s 50 day moving average is $61.13 and its two-hundred day moving average is $49.30.

Institutional Trading of United States Brent Oil Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Walled Lake Planning & Wealth Management LLC purchased a new position in shares of United States Brent Oil Fund in the 3rd quarter valued at about $565,000. WESPAC Advisors LLC purchased a new stake in United States Brent Oil Fund during the third quarter worth approximately $870,000. Farther Finance Advisors LLC purchased a new position in United States Brent Oil Fund in the third quarter valued at approximately $25,000. Avidian Wealth Enterprises LLC acquired a new stake in United States Brent Oil Fund during the third quarter worth approximately $270,000. Finally, Integrated Wealth Concepts LLC lifted its position in shares of United States Brent Oil Fund by 23.1% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 4,922 shares of the company’s stock worth $200,000 after buying an additional 922 shares during the last quarter.

About United States Brent Oil Fund

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.