United States Brent Oil Fund (NYSEARCA:BNO) Shares Up 2.4% – Time to Buy?

United States Brent Oil Fund LP (NYSEARCA:BNO)’s share price shot up 2.4% during mid-day trading on Wednesday . The company traded as high as $28.90 and last traded at $28.83. 435,425 shares were traded during mid-day trading, a decline of 21% from the average session volume of 553,751 shares. The stock had previously closed at $28.16.

United States Brent Oil Fund Stock Down 1.5 %

The firm’s fifty day moving average price is $29.35 and its 200 day moving average price is $30.60.

Institutional Investors Weigh In On United States Brent Oil Fund

Several institutional investors and hedge funds have recently modified their holdings of the company. Ignite Planners LLC acquired a new position in United States Brent Oil Fund in the 3rd quarter valued at about $515,000. BNP Paribas Financial Markets increased its stake in United States Brent Oil Fund by 340.2% during the 1st quarter. BNP Paribas Financial Markets now owns 16,447 shares of the company’s stock worth $525,000 after buying an additional 12,711 shares during the period. Avidian Wealth Solutions LLC acquired a new stake in United States Brent Oil Fund during the 1st quarter worth approximately $223,000. Daiwa Securities Group Inc. lifted its holdings in United States Brent Oil Fund by 11.7% during the 2nd quarter. Daiwa Securities Group Inc. now owns 64,700 shares of the company’s stock worth $2,080,000 after buying an additional 6,800 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its position in United States Brent Oil Fund by 2,731.0% in the 3rd quarter. International Assets Investment Management LLC now owns 4,756 shares of the company’s stock valued at $135,000 after buying an additional 4,588 shares during the period.

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.