United States Brent Oil Fund (NYSEARCA:BNO) Shares Gap Down – Time to Sell?

Shares of United States Brent Oil Fund LP (NYSEARCA:BNO) gapped down before the market opened on Monday . The stock had previously closed at $50.38, but opened at $47.73. United States Brent Oil Fund shares last traded at $47.34, with a volume of 526,387 shares traded.

More United States Brent Oil Fund News

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

• Positive Sentiment: Brent and WTI later stabilized or rebounded as traders continued to assess Middle East supply disruptions, offering some support to oil prices and BNO. Natural Gas and Oil Forecast: WTI and Brent Rebound as Middle East Supply Risks Persist
• Neutral Sentiment: Oil’s 200-day exponential moving average held, leaving the market technically supported, although traders remain focused on resistance levels and evolving geopolitical headlines. WTI and Brent Crude Oil Forecasts
• Neutral Sentiment: War-related price gains are expected to lift U.S. shale producers’ quarterly profits, but the likely return of much of the windfall to shareholders rather than production expansion provides limited direct support for future Brent supply growth. War-fueled oil rally set to lift shale profits to highest since 2022
• Negative Sentiment: Crude futures dropped sharply after President Donald Trump canceled planned strikes on Iran and pursued talks that could reopen the Strait of Hormuz, reducing the geopolitical risk premium in Brent. Oil tumbles as Trump cancels attack on Iran to reach nuclear deal
• Negative Sentiment: Unconfirmed Hormuz diplomacy drove an approximately 8% oil selloff, while OPEC+ approved another production increase of about 188,000 barrels per day for September, adding to supply concerns. Oil News: Crude Oil Futures Drop 8% as Hormuz Deal Hopes Outrun Ship Flows OPEC+ agrees to September oil hike

United States Brent Oil Fund Stock Down 5.2%

The stock’s 50 day simple moving average is $47.09 and its two-hundred day simple moving average is $44.98.

Hedge Funds Weigh In On United States Brent Oil Fund

Institutional investors have recently added to or reduced their stakes in the stock. Daiwa Securities Group Inc. boosted its stake in United States Brent Oil Fund by 6.6% during the second quarter. Daiwa Securities Group Inc. now owns 71,300 shares of the company’s stock worth $2,081,000 after buying an additional 4,400 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of United States Brent Oil Fund by 60.7% during the 2nd 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 acquiring an additional 2,514 shares during the period. Headlands Technologies LLC raised its holdings in shares of United States Brent Oil Fund by 389.5% during the 2nd quarter. Headlands Technologies LLC now owns 9,834 shares of the company’s stock worth $287,000 after acquiring an additional 7,825 shares during the period. JPMorgan Chase & Co. boosted its position in shares of United States Brent Oil Fund by 7.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 20,896 shares of the company’s stock valued at $628,000 after acquiring an additional 1,378 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in shares of United States Brent Oil Fund by 17.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 19,530 shares of the company’s stock valued at $587,000 after acquiring an additional 2,893 shares during the last quarter.

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.