United States Brent Oil Fund (NYSEARCA:BNO) Trading Down 2.4% – Should You Sell?

United States Brent Oil Fund LP (NYSEARCA:BNO)’s share price was down 2.4% during trading on Monday . The company traded as low as $29.38 and last traded at $29.45. Approximately 950,955 shares traded hands during mid-day trading, an increase of 146% from the average daily volume of 386,821 shares. The stock had previously closed at $30.16.

United States Brent Oil Fund Stock Performance

The firm has a 50-day moving average of $30.97 and a two-hundred day moving average of $29.90.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of BNO. International Assets Investment Management LLC lifted its holdings in shares of United States Brent Oil Fund by 2,731.0% during the third quarter. International Assets Investment Management LLC now owns 4,756 shares of the company’s stock worth $135,000 after buying an additional 4,588 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of United States Brent Oil Fund by 8.3% during the third quarter. Daiwa Securities Group Inc. now owns 70,100 shares of the company’s stock worth $1,985,000 after buying an additional 5,400 shares during the last quarter. Harvest Fund Management Co. Ltd lifted its holdings in shares of United States Brent Oil Fund by 16.1% during the third quarter. Harvest Fund Management Co. Ltd now owns 111,000 shares of the company’s stock worth $3,142,000 after buying an additional 15,371 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in shares of United States Brent Oil Fund during the third quarter worth approximately $425,000. Finally, Flow Traders U.S. LLC lifted its holdings in shares of United States Brent Oil Fund by 146.7% during the third quarter. Flow Traders U.S. LLC now owns 68,710 shares of the company’s stock worth $1,945,000 after buying an additional 40,855 shares during the last quarter.

About United States Brent Oil Fund

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.