United States Brent Oil Fund (NYSEARCA:BNO) Hits New 1-Year High – What’s Next?

United States Brent Oil Fund LP (NYSEARCA:BNO) shares reached a new 52-week high on Wednesday. The company traded as high as $71.43 and last traded at $71.38, with a volume of 558,890 shares traded. The stock had previously closed at $69.67.

United States Brent Oil Fund Stock Performance

The stock’s 50-day moving average is $60.40 and its 200-day moving average is $48.89.

Institutional Investors Weigh In On United States Brent Oil Fund

Hedge funds and other institutional investors have recently modified their holdings of the company. WESPAC Advisors LLC acquired a new stake in United States Brent Oil Fund in the 3rd quarter valued at $870,000. Farther Finance Advisors LLC acquired a new position in United States Brent Oil Fund during the 3rd quarter valued at about $25,000. Avidian Wealth Enterprises LLC acquired a new position in United States Brent Oil Fund during the 3rd quarter valued at about $270,000. Integrated Wealth Concepts LLC increased its holdings in United States Brent Oil Fund by 23.1% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 4,922 shares of the company’s stock worth $200,000 after purchasing an additional 922 shares in the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in United States Brent Oil Fund during the 2nd quarter worth approximately $456,000.

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.