United States Brent Oil Fund LP (NYSEARCA:BNO) Sees Significant Increase in Short Interest

United States Brent Oil Fund LP (NYSEARCA:BNO) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totaling 3,872,722 shares, an increase of 78.1% from the August 31st total of 2,173,917 shares. Currently, 30.6% of the shares of the company are short sold. Based on an average daily trading volume, of 2,179,233 shares, the short-interest ratio is currently 1.8 days.

United States Brent Oil Fund News Summary

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

• Positive Sentiment: Brent and WTI prices have risen for a second consecutive session as uncertainty surrounding the Strait of Hormuz, regional infrastructure and potential disruptions to Middle Eastern supply continues to support crude prices. This is the primary bullish catalyst for BNO. Oil prices rise for second session on continued Middle East supply concern
• Positive Sentiment: The fund reported strong August performance, indicating that the recent rally in Brent crude has translated into favorable results for BNO investors. United States Brent Oil Fund Reports Strong August Performance
• Neutral Sentiment: Crude is testing its 50-day exponential moving average. A successful hold could attract value buyers and support Brent, while a break below it would signal that near-term selling pressure is strengthening. WTI and Brent Forecast: 50-Day EMA Tests Could Attract Buyers
• Negative Sentiment: The U.S. plans to offer energy companies 40 million barrels from the Strategic Petroleum Reserve, while IEA members may consider additional releases. Extra supply could reduce Brent prices and limit BNO’s upside. US to release 40 million barrels of crude from Strategic Petroleum Reserve
• Negative Sentiment: Saudi Arabia has resumed loading oil from Yanbu, and regional exports have rebounded as Saudi Arabia and the UAE increased shipments. Improving physical supply undermines the scarcity premium supporting Brent. Saudi resumes Yanbu oil loading after pipeline restart

United States Brent Oil Fund Stock Down 2.6%

United States Brent Oil Fund stock traded down $1.57 during mid-day trading on Tuesday, reaching $58.76. 1,312,734 shares of the stock traded hands, compared to its average volume of 3,435,310. United States Brent Oil Fund has a 12-month low of $27.14 and a 12-month high of $63.98. The business’s 50-day moving average is $54.02 and its 200-day moving average is $51.15.

Hedge Funds Weigh In On United States Brent Oil Fund

A number of institutional investors and hedge funds have recently made changes to their positions in BNO. Harvest Fund Management Co. Ltd grew its position in shares of United States Brent Oil Fund by 35.8% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 337,192 shares of the company’s stock valued at $9,549,000 after acquiring an additional 88,905 shares during the period. NewEdge Advisors LLC purchased a new position in United States Brent Oil Fund during the first quarter valued at $1,776,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in United States Brent Oil Fund during the second quarter valued at about $456,000. Lombard Odier Asset Management USA Corp purchased a new stake in United States Brent Oil Fund in the first quarter worth about $854,000. Finally, Empowered Funds LLC purchased a new stake in United States Brent Oil Fund in the first quarter worth about $2,872,000.

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.