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Derivative Instruments | 6 Months Ended
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Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivative Instruments | Note 7 – Derivative Instruments The Fair Value of Derivative Instruments is as follows:
|  | June 30, 2024 |  |  | December 31, 2023 |
Risk Exposure/Derivative Type (a) |  | Assets |  |  | Liabilities |  |  | Assets |  |  | Liabilities |
Currency risk |  |  |  |  |  |  |  |  |  |  |  |
Currency Futures Contracts |  | $ | — |  |  | $ | (443,438 | ) |  | $ | 982,879 |  |  | $ | — |
(a) Includes cumulative appreciation (depreciation) of currency futures contracts. Only the current day’s variation margin receivable (payable) is reported in the June 30, 2024 and December 31, 2023 Statements of Financial Condition. The Effect of Derivative Instruments on the Statements of Income and Expenses is as follows:
|  |  |  | For the Three Months Ended |
|  | Location of Gain (Loss) on Derivatives |  | June 30, |
Risk Exposure/Derivative Type |  | Recognized in Income |  | 2024 |  |  | 2023 |
Currency risk |  |  |  |  |  |  |  |
Currency Futures Contracts |  | Net Realized Gain (Loss) |  | $ | (1,442,051 | ) |  | $ | 1,213,790 |
|  | Net Change in Unrealized Gain (Loss) |  |  | 540,819 |  |  |  | (2,151,965 | )
Total |  |  |  | $ | (901,232 | ) |  | $ | (938,175 | )
|  |  |  | For the Six Months Ended |
|  | Location of Gain (Loss) on Derivatives |  | June 30, |
Risk Exposure/Derivative Type |  | Recognized in Income |  | 2024 |  |  | 2023 |
Currency risk |  |  |  |  |  |  |  |
Currency Futures Contracts |  | Net Realized Gain (Loss) |  | $ | (1,735,594 | ) |  | $ | (322,166 | )
|  | Net Change in Unrealized Gain (Loss) |  |  | (1,426,317 | ) |  |  | (664,133 | )
Total |  |  |  | $ | (3,161,911 | ) |  | $ | (986,299 | )
The table below summarizes the average monthly notional value of futures contracts held during the period:
|  | For the Three Months Ended |  |  | For the Six Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Average Notional Value - Short |  | $ | (58,543,377 | ) |  | $ | (79,117,717 | ) |  | $ | (61,606,439 | ) |  | $ | (85,127,891 | )

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- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480237/815-40-50-5 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5C -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-5C Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 815 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/815/tableOfContent + Details
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