Today, United States 12 Month Oil Fund, LP (NYSE Arca:USL), disclosed its monthly account statement for August 2024, detailing income, losses, and changes in net asset value. The commodity pool, which is structured as a limited partnership, operates under the Commodity Exchange Act and is managed by United States Commodity Funds LLC.
The report, made public through a Form 8-K filing with the Securities and Exchange Commission, provides a snapshot of the fund's financial status as of August 31, 2024. This document includes a Statement of Income (Loss) and a Statement of Changes in Net Asset Value for the month.
The United States 12 Month Oil Fund, headquartered in Walnut Creek, California, is a commodity pool that invests in futures contracts for different types of crude oil, diesel-heating oil, gasoline, natural gas, and other petroleum-based fuels. Its primary goal is to offer exposure to the price movements of crude oil.
The monthly account statement is available on the registrant's website, providing investors and the general public with access to the fund's performance data. The information included in the Form 8-K and its exhibit is not considered "filed" for SEC purposes and is not incorporated by reference into any of the fund's previous filings under the Securities Act of 1933, unless explicitly stated otherwise.
The United States 12 Month Oil Fund's financial disclosures are crucial for investors seeking transparency and up-to-date information on the fund's operations and performance. This report, based on a press release statement, allows investors to make informed decisions based on the fund's most recent financial health.
In other recent news, the United States 12 Month Oil Fund, LP has released its monthly financial statements for July and June 2024. These disclosures, made as part of the Commodity Exchange Act requirements, provide investors with a snapshot of the fund's financial status, including a Statement of Income (Loss) and a Statement of Changes in Net Asset Value. The fund, managed by United States Commodity Funds LLC, has consistently committed to transparency, making these reports readily available on its website. However, these reports are not considered "filed" under Section 18 of the Securities Exchange Act of 1934, nor are they incorporated by reference in any filing under the Securities Act of 1933, unless explicitly stated.
InvestingPro Insights
To provide additional context to the United States 12 Month Oil Fund's (USL) financial disclosure, let's examine some key metrics from InvestingPro. As of the latest data, USL has a market capitalization of $53.97 million, reflecting its relatively small size in the commodity fund space. The fund's price is currently at 85.46% of its 52-week high, suggesting some downward pressure in recent times.
This observation is further supported by the fund's price performance across various timeframes. USL has experienced negative returns over multiple periods, with a 1-week return of -1.94%, a 3-month return of -11.2%, and a 1-year return of -10.27%. These figures align with the volatility often seen in oil-related investments.
InvestingPro Tips highlight some important aspects for potential investors to consider. Firstly, USL suffers from weak gross profit margins, which could impact its overall profitability. Additionally, the fund does not pay dividends to shareholders, which may be a consideration for income-focused investors.
For those interested in a deeper analysis, InvestingPro offers 5 additional tips for USL, providing a more comprehensive view of the fund's prospects and challenges.
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