Item 8. Financial Statements and Supplementary Data
Item 8. Financial Statements and Supplementary Data.
The following tables show the Trust’s quarterly financial information for each of the four quarters of 2024 and 2023.
Three Months Ended (Unaudited)
March 31,
2024
June 30,
2024
September 30,
2024
December 31,
2024
Investment Income
Interest
$
13,015,780
$
14,145,807
$
13,037,036
$
11,052,512
Total investment income
13,015,780
14,145,807
13,037,036
11,052,512
Expenses
Sponsor’s fees
1,785,101
2,026,058
1,801,762
1,754,122
Brokerage commissions and fees
233,599
188,202
159,320
168,430
Total expenses
2,018,700
2,214,260
1,961,082
1,922,552
Net investment income
10,997,080
11,931,547
11,075,954
9,129,960
Net Realized and Unrealized Gain (Loss)
Net realized gain (loss) from:
Short-term investments
215
(11
)
1,222
4,108
Futures contracts
57,205,070
(720,717
)
(77,701,360
)
23,822,025
Net realized gain (loss)
57,205,285
(720,728
)
(77,700,138
)
23,826,133
Net change in unrealized appreciation/depreciation on:
Short-term investments
(424,455
)
324,741
(71,699
)
(17,912
)
Futures contracts
24,561,846
(7,036,546
)
6,815,884
94,070
Net change in unrealized appreciation/depreciation
24,137,391
(6,711,805
)
6,744,185
76,158
Net realized and unrealized gain (loss)
81,342,676
(7,432,533
)
(70,955,953
)
23,902,291
Net increase (decrease) in net assets resulting from operations
$
92,339,756
$
4,499,014
$
(59,879,999
)
$
33,032,251
Net increase (decrease) in net assets per Share
$
2.03
$
0.09
$
(1.34
)
$
0.76
Three Months Ended (Unaudited)
March 31,
2023
June 30,
2023
September 30,
2023
December 31,
2023
Investment Income
Interest
$
12,440,489
$
11,771,724
$
14,165,520
$
14,182,155
Total investment income
12,440,489
11,771,724
14,165,520
14,182,155
Expenses
Sponsor’s fees
2,092,414
1,909,342
2,053,996
1,990,940
Brokerage commissions and fees
237,950
221,985
223,882
179,313
Total expenses
2,330,364
2,131,327
2,277,878
2,170,253
Net investment income
10,110,125
9,640,397
11,887,642
12,011,902
Net Realized and Unrealized Gain (Loss)
Net realized gain (loss) from:
Short-term investments
14,130
9,643
1,562
721
Futures contracts
(603,286
)
(62,297,247
)
133,698,141
(128,892,964
)
Net realized gain (loss)
(589,156
)
(62,287,604
)
133,699,703
(128,892,243
)
Net change in unrealized appreciation/depreciation on:
Short-term investments
(199,403
)
(36,694
)
167,444
97,058
Futures contracts
(72,663,682
)
20,139,730
8,350,484
(7,977,378
)
Net change in unrealized appreciation/depreciation
(72,863,085
)
20,103,036
8,517,928
(7,880,320
)
Net realized and unrealized gain (loss)
(73,452,241
)
(42,184,568
)
142,217,631
(136,772,563
)
Net increase (decrease) in net assets resulting from operations
$
(63,342,116
)
$
(32,544,171
)
$
154,105,273
$
(124,760,661
)
Net increase (decrease) in net assets per Share
$
(1.14
)
$
(0.63
)
$
3.04
$
(2.50
)
See Index to Financial Statements on page F-1 for a list of the financial statements being filed herein.
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure.
There have been no changes in accountants and no disagreements with accountants during the year ended December 31, 2024.
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Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.