Investors Buy High Volume of Call Options on United States Brent Oil Fund (NYSEARCA:BNO)

United States Brent Oil Fund LP (NYSEARCA:BNO) saw unusually large options trading activity on Monday. Investors acquired 27,523 call options on the company. This is an increase of 56% compared to the average volume of 17,654 call options.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Ruffer LLP bought a new position in shares of United States Brent Oil Fund in the 4th quarter valued at about $3,019,000. Virtu Financial LLC acquired a new position in United States Brent Oil Fund in the 3rd quarter valued at about $2,865,000. Jump Financial LLC acquired a new position in United States Brent Oil Fund in the 3rd quarter valued at about $4,303,000. Daiwa Securities Group Inc. grew its stake in United States Brent Oil Fund by 6.6% in the 2nd quarter. Daiwa Securities Group Inc. now owns 71,300 shares of the company’s stock valued at $2,081,000 after buying an additional 4,400 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in United States Brent Oil Fund by 7.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 20,896 shares of the company’s stock valued at $628,000 after buying an additional 1,378 shares during the last quarter.

United States Brent Oil Fund News Summary

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

• Positive Sentiment: Reports that Iran has mined “large segments” of the Strait of Hormuz raised the risk of shipping disruptions, which could keep Brent prices elevated and support BNO. Iran has mined ‘large segments’ of Hormuz Strait, Secretary of State Rubio says
• Positive Sentiment: Multiple oil market updates said crude prices were gaining ground or rallying as hopes for a quick Iran deal faded, signaling more geopolitical risk premium in Brent. Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Gains Ground As Hopes Of Quick Iran Deal Fade
• Positive Sentiment: Analysts and traders warned that the oil market may be underpricing Iran war risks, reinforcing the case for sustained upside in Brent-linked assets. Oil market could be underpricing risks, Vitol’s Bahrain chief says
• Positive Sentiment: Russian western oil exports hit an eight-month high as refinery outages forced more crude onto the export market, adding to the global supply disruption theme. Exclusive: Russia’s western oil exports hit 8-month high as drone strikes curb refining
• Neutral Sentiment: Some reports said oil prices slipped or pared gains after President Trump suggested peace talks with Iran were still going ahead, which could cap further near-term upside if tensions ease. Oil prices drop after Trump tries to reassure traders that peace deal is coming
• Neutral Sentiment: Traders also noted that unusual call buying in BNO pointed to expectations for continued volatility and possible further gains in Brent.
• Negative Sentiment: If U.S.-Iran negotiations make progress or the Strait of Hormuz reopens more normally, Brent prices could ease, which would weigh on BNO. Oil steadies as uncertainty over US-Iran talks keeps markets on edge

United States Brent Oil Fund Price Performance

Shares of NYSEARCA BNO opened at $52.89 on Wednesday. United States Brent Oil Fund has a twelve month low of $27.14 and a twelve month high of $60.81. The company’s fifty day moving average is $52.67 and its 200-day moving average is $39.49.

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.