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Statements of Operations - USD ($) | 12 Months Ended
--- | ---
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014
Gain (loss) on trading of commodity futures contracts: |  |  |
Realized gain (loss) on closed futures contracts | $ (2,271,270) | $ (6,916,714) | $ 2,205,950
Change in unrealized gain (loss) on open futures contracts | 5,217,980 | 2,497,914 | (6,009,940)
Dividend income | 10,786 | 2,766 | 2,798
Interest income | 32,944 | 3,669 | 2,288
ETF transaction fees | 1,750 | 6,650 | 5,600
Total income (loss) | 2,992,190 | (4,405,715) | (3,793,304)
Expenses |  |  |
General Partner management fees (Note 3) | 102,306 | 118,848 | 143,944
Professional fees | 114,167 | 101,338 | 150,833
Brokerage commissions | 3,451 | 6,117 | 3,918
Directors' fees and insurance | 2,888 | 3,140 | 6,009
License fees | 2,046 | 2,377 | 2,879
Total expenses | 224,858 | 231,820 | 307,583
Expense waiver (Note 3) | (102,092) | (89,122) | (128,906)
Net expenses | 122,766 | 142,698 | 178,677
Net income (loss) | $ 2,869,424 | $ (4,548,413) | $ (3,971,981)
Net income (loss) per limited partnership share | $ 2.03 | $ (3.97) | $ (4.63)
Net income (loss) per weighted average limited partnership share | $ 2.07 | $ (3.48) | $ (3.85)
Weighted average limited partnership shares outstanding | 1,387,568 | 1,305,753 | 1,031,781

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