The U.S. Oil Fund, the largest exchange-traded fund in crude oil, closed at a Trades at Par on Oct. 6, according to figures on the fund’s website. A trades at par means that the closing price of the shares is the same as than the value of its underlying holdings in the fuel.
Crude oil for November delivery rose $2.91, or 3.65 percent, to $82.59 a barrel on the New York Mercantile Exchange on Oct. 6.
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Oct. 6 Oct. 5 Oct. 4 Oct. 3 Sept. 30 Sept. 29
2011 2011 2011 2011 2011 2011
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--------------------Per Share----------------------
Premium/discount 0.00% 0.03% 0.00% -1.10% -0.49% 0.57%
Net Asset Value $31.97 $30.84 $29.29 $30.04 $30.66 $31.80
Closing price $31.97 $30.85 $29.29 $29.71 $30.51 $31.98
------------Quantity of Fund Holdings--------------
NYMEX Futures 9,487 8,945 8,945 7,822 8,480 8,867
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Oct. 6 Oct. 5 Oct. 4 Oct. 3 Sept. 30 Sept. 29
2011 2011 2011 2011 2011 2011
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------------Quantity of Fund Holdings--------------
ICE WTI 6,000 6,000 6,000 6,000 6,000 6,000
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NOTE: The fund aims to track the price of West Texas Intermediate delivered to Cushing, Oklahoma. The ETF buys the near-month contract, then rolls forward by selling it before expiration and buying the following month.
SOURCE: United States Oil Fund
To contact the reporter on this story: Daniel Petrie in Sydney at dpetrie5@bloomberg.net
To contact the editor responsible for this story: Alex Tanzi at atanzi@bloomberg.net
