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Invesco DB Energy Fund (IVZ-1.54%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing a decrease in the net asset value per share to $18.56 from $19.19 at the beginning of the year. The decrease is attributed to falling commodity futures contract prices for Brent Crude Oil, Natural Gas, and Ultra-Low Sulphur Diesel.
The fund reported a net loss of $6.8 million for the three months ended September 30, 2024, primarily due to a net realized gain of $0.9 million offset by a net change in unrealized loss of $8.4 million.
For the nine months ended September 30, 2024, the fund's net income was a loss of $0.5 million, with total income of $3.0 million and net realized and unrealized losses of $3.1 million.
The fund's performance is driven by its strategy of trading futures contracts to track the DBIQ Optimum Yield Energy Index Excess Return, which decreased by 6.53% during the nine months ended September 30, 2024.
The fund's market price per share decreased to $18.58 as of September 30, 2024, from $19.19 at the beginning of the year, reflecting a total return of -3.18% on a market value basis.
The fund's assets include U.S. Treasury Obligations and money market mutual funds, which are used as collateral for margin requirements and cash management purposes.
The fund's trading activities are subject to market risk, influenced by changes in commodity prices, and credit risk, related to the performance of counterparties such as the Commodity Broker.
During the quarter, the fund redeemed 900,000 shares from Authorized Participants, with an average price paid per share of $20.26.
The filing also details the fund's exposure to various energy commodities, including Light Sweet Crude Oil, Ultra-Low Sulphur Diesel, Brent Crude Oil, RBOB Gasoline, and Natural Gas, each with specific market risk factors.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Invesco DB Energy Fund quarterly 10-Q report dated November 7, 2024. To report an error, please email earnings@qz.com.