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Condensed Statements of Operations - USD ($) | 3 Months Ended
--- | ---
Mar. 31, 2018 | Mar. 31, 2017
Gain (loss) on trading of commodity futures contracts: |  |  |
Realized gain (loss) on closed futures contracts |  | $ 183,289,170 | $ (155,270,440)
Change in unrealized gain (loss) on open futures contracts |  | (15,464,070) | (96,491,490)
Dividend income |  | 283,406 | 858,889
Interest income | [1] | 6,294,976 | 2,940,939
ETF transaction fees |  | 115,000 | 69,350
Total income (loss) |  | 174,518,482 | (247,892,752)
Expenses |  |  |
General Partner management fees (Note 3) |  | 2,187,506 | 3,226,589
Professional fees |  | 508,685 | 590,480
Brokerage commissions |  | 694,480 | 1,161,407
Directors' fees and insurance |  | 75,556 | 90,610
License fees |  | 72,917 | 107,553
Registration fees |  | 81,464 | 85,913
Total expenses |  | 3,620,608 | 5,262,552
Net income (loss) |  | $ 170,897,874 | $ (253,155,304)
Net income (loss) per limited partnership share |  | $ 1.02 | $ (1.09)
Net income (loss) per weighted average limited partnership share |  | $ 1.09 | $ (0.97)
Weighted average limited partnership shares outstanding |  | 156,170,000 | 261,642,222
[1] | Interest income does not exceed paid in kind of 5%.

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