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iShares S&P GSCI Commodity-Indexed Trust (BLK-0.72%) 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 net asset value from $1,098,519,705 at June 30, 2024, to $881,380,256 at September 30, 2024. This decrease is primarily due to a reduction in the number of outstanding shares.
The trust's net asset value per share decreased by 5.41% from $22.19 at June 30, 2024, to $20.99 at September 30, 2024. This decrease is attributed to a 6.51% decrease in the settlement price for the index futures.
For the quarter ended September 30, 2024, the trust reported a net decrease in net assets resulting from operations of $59,879,999, which includes a net realized and unrealized loss of $70,955,953 and a net investment income of $11,075,954.
The trust's net asset value decreased from $968,051,679 at December 31, 2023, to $881,380,256 at September 30, 2024. This decrease is due to a reduction in the number of outstanding shares.
For the nine months ended September 30, 2024, the trust reported a net increase in net assets resulting from operations of $36,958,771, comprising a net realized and unrealized gain of $2,954,190 and a net investment income of $34,004,581.
The trust holds index futures and collateral assets to satisfy applicable margin requirements. The trust does not anticipate further liquidity needs as creations and redemptions of shares generally occur in-kind.
The trust is exposed to market risk due to its holdings in index futures, which are expected to track the S&P GSCI-ER. The trust's exposure to market risk may be influenced by factors including the lack of liquidity in the index futures market.
The trust is also exposed to credit risk through its holdings in U.S. Treasury bills and potential defaults by the CME's (CME-0.43%) clearing house or its futures commission merchant.
The filing also details various financial highlights, including a decrease in the number of shares issued and outstanding from 48,200,000 at December 31, 2023, to 42,000,000 at September 30, 2024.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the iShares S&P GSCI Commodity-Indexed Trust quarterly 10-Q report dated November 7, 2024. To report an error, please email earnings@qz.com.