United States Short Oil Fund
DNO
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- DE United States of America
- IPO Date
- Sep 24, 2009
- CIK
- 0001439567
- Website
- unitedstatesshortoilfund.com
- Similar Companies
- Business
- United States Short Oil Fund, LP (DNO) is an exchange-traded fund that seeks to inversely track the daily percentage changes in the spot price of West Texas Intermediate (WTI) light, sweet crude oil delivered to Cushing, Oklahoma. The fund, launched and managed by United States Commodity Funds LLC, invests primarily in short positions in derivatives, including futures contracts for WTI light, sweet crude oil, other types of crude oil, diesel-heating oil, gasoline, natural gas, and other petroleum-based fuels traded on U.S. exchanges; it employs a market-neutral strategy to achieve its objective of reflecting the inverse daily movements of the WTI spot price, less the fund's expenses. Organized as a limited partnership with shares trading on the NYSE Arca, DNO holds a single primary holding focused on short oil futures exposure and was formed on June 30, 2008, with its operations domiciled in the United States. DNO targets investors seeking inverse exposure to U.S. crude oil price fluctuations within the commodities sector, particularly those employing hedging or speculative strategies against rising oil prices. Geographically, the fund's investments center on U.S. commodity markets, with no direct international operations beyond tracking WTI benchmarks tied to domestic delivery points. United States Commodity Funds LLC serves as the general partner, overseeing a portfolio designed for short-term daily performance rather than long-term holding, subject to risks from futures contract rolls, contango, and backwardation effects. In recent years, DNO has maintained its core strategy without major structural changes, though its sponsor United States Commodity Funds LLC completed portfolio transitions in related funds, such as shifting the United States Oil Fund (USO) back to primary investment in Benchmark Oil Futures Contracts between September 2023 and January 2024. No significant acquisitions, partnerships, funding rounds, new product launches, or reorganizations specific to DNO have been reported in the last 1-2 years; the fund continues to operate under its established limited partnership agreement, with the most recent SEC post-effective amendment noted in 2015. Performance metrics as of late 2024 reflect ongoing volatility, with 1-year returns at -33.11% and beta of -3.01, underscoring its leveraged inverse oil exposure.