The United States 12 Month Oil Fund, LP (NYSE Arca: USL), a commodity pool that issues shares traded on the NYSE Arca, has disclosed its monthly financial statements for May 2024. The report, filed today with the Securities and Exchange Commission, includes the fund's Statement of Income (Loss) and a Statement of Changes in Net Asset Value for the month ended May 31, 2024.
The financial statements are designed to provide shareholders and the investment community with relevant information regarding the fund's financial position. The United States 12 Month Oil Fund, LP, managed by United States Commodity Funds LLC, aims to provide investors with exposure to the movements in the price of oil.
According to the filing, the information contained in the report, including the financial statements, will not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, nor will it be deemed incorporated by reference in any filing under the Securities Act of 1933, unless specifically stated.
The monthly financial statements for the United States 12 Month Oil Fund, LP are available on the fund's website at www.uscfinvestments.com. This disclosure is part of the routine reporting obligations under the Commodity Exchange Act, Rule 4.22, which requires the timely submission of monthly account statements.
Investors and analysts often scrutinize such filings to assess the performance of commodity funds, especially in volatile markets. The fund's performance can be influenced by a variety of factors, including changes in the price of crude oil, interest rates, and broader market trends.
The United States 12 Month Oil Fund, LP is one of several investment vehicles that provide investors with the opportunity to invest in the commodities market, particularly in oil futures, without directly purchasing physical commodities or futures contracts.
This report is based on a press release statement and is intended to convey only the facts presented in the SEC filing, providing a concise summary of the United States 12 Month Oil Fund's financial status as of the end of May 2024.
InvestingPro Insights
As investors evaluate the United States 12 Month Oil Fund, LP's performance, recent data from InvestingPro offers a snapshot of the fund's market presence and performance trends. With an adjusted market capitalization of $65.1 million, the fund's size is a key factor for potential investors.
While the fund does not offer dividends, which might be a consideration for income-focused investors, it has shown notable price returns over various time frames. Specifically, the 1-week total price return stands at 1.34%, and the 1-month at 1.86%. More impressively, the fund has achieved a 26.46% price return over the past year, nearing its 52-week high at 96.25% of that value.
For investors considering the fund's future prospects, two InvestingPro Tips suggest caution: the fund suffers from weak gross profit margins and valuation implies a poor free cash flow yield. These factors could impact the fund's ability to generate and sustain profits over the long term.
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