Harvest Fund Management Co. Ltd Acquires 88,905 Shares of United States Brent Oil Fund LP $BNO

Harvest Fund Management Co. Ltd increased its holdings in United States Brent Oil Fund LP (NYSEARCA:BNO) by 35.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 337,192 shares of the company’s stock after buying an additional 88,905 shares during the period. Harvest Fund Management Co. Ltd owned about 0.08% of United States Brent Oil Fund worth $9,549,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of BNO. Jump Financial LLC purchased a new stake in shares of United States Brent Oil Fund during the third quarter worth $4,303,000. Ruffer LLP purchased a new stake in shares of United States Brent Oil Fund during the fourth quarter worth $3,019,000. Virtu Financial LLC purchased a new stake in shares of United States Brent Oil Fund during the third quarter worth $2,865,000. Flow Traders U.S. LLC purchased a new stake in shares of United States Brent Oil Fund during the third quarter worth $793,000. Finally, Daiwa Securities Group Inc. lifted its position in shares of United States Brent Oil Fund by 12.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 78,000 shares of the company’s stock worth $2,209,000 after acquiring an additional 8,700 shares in the last quarter.

United States Brent Oil Fund Trading Down 2.7%

Shares of BNO stock opened at $52.48 on Friday. United States Brent Oil Fund LP has a 52-week low of $27.14 and a 52-week high of $60.81. The business’s fifty day moving average is $52.84 and its 200 day moving average is $40.00.

Key Stories Impacting United States Brent Oil Fund

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

• Positive Sentiment: Escalating U.S.-Iran tensions earlier in the period helped push Brent higher as traders priced in Strait of Hormuz disruption risk and tighter global supply. Recent reports also noted falling U.S. crude inventories and OPEC’s view that oil demand remains robust. Oil prices rise as new Middle East hostilities flare and talks stall
• Positive Sentiment: Reuters reported Iranian crude exports fell to the lowest level in at least six years, reinforcing the view that supply from the region remains constrained. Iranian oil exports fall to lowest level in six years, data shows
• Neutral Sentiment: Several market forecasts said crude is now in a technical consolidation pattern, suggesting the next move could be a breakout or breakdown depending on the next geopolitical headline. Crude Oil Price Forecast: Triangle Compression Signals Breakout Risk
• Neutral Sentiment: News that Israel and Lebanon agreed to implement a ceasefire weighed on Brent by easing some war-risk pricing, though the market remains sensitive because the broader Iran situation is unresolved. Oil falls as Lebanon and Israel agree to implement ceasefire
• Negative Sentiment: Oil also came under pressure after reports that President Trump is reluctant to restart the Iran war unless U.S. troops are killed, which reduced immediate supply-shock fears and sparked profit-taking in crude. Oil prices fall 3% on report Trump reluctant to restart Iran war

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.