NewEdge Advisors LLC Makes New Investment in United States Brent Oil Fund LP $BNO

NewEdge Advisors LLC purchased a new position in shares of United States Brent Oil Fund LP (NYSEARCA:BNO) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 34,156 shares of the company’s stock, valued at approximately $1,776,000.

A number of other large investors also recently modified their holdings of the business. Royal Bank of Canada grew its holdings in shares of United States Brent Oil Fund by 49.3% in the 1st quarter. Royal Bank of Canada now owns 5,974 shares of the company’s stock valued at $310,000 after acquiring an additional 1,974 shares in the last quarter. Empowered Funds LLC bought a new stake in United States Brent Oil Fund during the first quarter worth about $2,872,000. Lombard Odier Asset Management USA Corp bought a new stake in United States Brent Oil Fund during the first quarter worth about $854,000. Cetera Investment Advisers acquired a new position in United States Brent Oil Fund during the first quarter valued at approximately $448,000. Finally, CVS HEALTH Corp acquired a new position in United States Brent Oil Fund during the first quarter valued at approximately $520,000.

United States Brent Oil Fund Stock Performance

BNO stock opened at $50.38 on Friday. The business has a 50 day moving average price of $47.09 and a two-hundred day moving average price of $44.87. United States Brent Oil Fund LP has a twelve month low of $27.14 and a twelve month high of $60.81.

Key Stories Impacting United States Brent Oil Fund

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

• Positive Sentiment: Oil prices rose after Iran said it stopped two vessels attempting to leave the Strait of Hormuz. The incident renewed concerns about global energy supplies, particularly after a recent drone attack on ships at an Egyptian Mediterranean port. Oil price rises after Iran says it stops ships in Hormuz
• Positive Sentiment: A Reuters survey found analysts expect oil prices to gain further this year as Strait of Hormuz shipping disruptions and Red Sea attacks by Iran-backed Houthis threaten crude flows. Oil prices seen gaining as Middle East supply disruptions persist
• Positive Sentiment: U.S. crude production fell about 2% in May from April’s record level, while lower domestic supply can provide additional support to oil prices. However, weaker U.S. demand partly offsets this effect. US oil output and demand fell in May, EIA says
• Positive Sentiment: Oil rebounded from session lows as traders remained cautious about further escalation, preserving a geopolitical risk premium in Brent futures. Oil rebounds from session lows
• Neutral Sentiment: Refining margins near record levels have contributed to higher European fuel prices, but this primarily affects refiners and does not directly change BNO’s exposure to Brent futures. Oil refining margins have added to Europe’s fuel price rise
• Negative Sentiment: Reports that Strait of Hormuz traffic recovered to roughly 30%–35% of pre-war levels and that more crude is moving through key chokepoints have eased immediate supply fears, limiting Brent’s upside. Oil prices ease as recovering Hormuz Strait traffic tempers war premium
• Negative Sentiment: Profit-taking and technical consolidation have periodically pushed Brent and WTI lower as traders await clearer developments in the conflict. Oil markets move lower amid profit-taking

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.