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Invesco DB Base Metals Fund (IVZ-0.39%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing a net asset value per share increase to $20.81 from $20.16 at the beginning of the period. The market value per share also increased to $20.80 from $20.11.
Net income for the quarter was reported at $1,994,390, primarily resulting from $1,692,019 in total income and $557,570 in net realized and unrealized gains on investments.
Total expenses for the quarter were $264,306, with management fees accounting for $250,245 of this amount. After waivers, net expenses were $255,199.
The fund's performance was driven by increases in the prices of aluminum, zinc, and copper futures contracts, contributing to a 2.04% increase in the level of the DBIQ Optimum Yield Industrial Metals Index Excess Return and a 3.40% increase in the total return index.
Cash provided by operating activities was $9,397,143, while cash used in financing activities was $9,397,143, resulting in no net change in cash for the period.
The fund's investments in affiliated money market funds and ETFs yielded $496,263 in dividends during the quarter.
The filing also details the fund's exposure to market risk, primarily influenced by changes in commodity prices, and outlines the fund's strategy of investing in futures contracts to track the DBIQ Optimum Yield Industrial Metals Index.
The fund's liquidity is supported by its holdings in U.S. Treasury Obligations and money market mutual funds, which are used for margin and cash management purposes.
The report concludes with a discussion of the fund's internal controls and procedures, noting that there were no changes during the quarter that materially affected the fund's internal control over financial reporting.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Invesco DB Base Metals Fund quarterly 10-Q report dated November 7, 2024. To report an error, please email earnings@qz.com.