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v3.20.1

Condensed Statements of Operations - USD ($) | 3 Months Ended
--- | ---
Mar. 31, 2020 | Mar. 31, 2019
Gain (loss) on trading of commodity futures contracts: |  |  |
Realized gain (loss) on closed futures contracts |  | $ (361,302) | $ (8,587)
Change in unrealized gain (loss) on open futures contracts |  | 33,492 | 104,608
Dividend income |  | 958 | 3,902
Interest income* | [1] | 11,093 | 23,636
ETF transaction fees |  | 0 | 350
Total income (loss) |  | (315,759) | 123,909
Expenses |  |  |
General Partner management fees (Note 3) |  | 5,794 | 9,096
Professional fees |  | 16,699 | 21,915
Brokerage commissions |  | 131 | 372
Directors' fees and insurance |  | 236 | 328
License fees |  | 116 | 182
Total expenses |  | 22,976 | 31,893
Expense waiver (Note 3) |  | (16,022) | (20,977)
Net expenses |  | 6,954 | 10,916
Net income (loss) |  | $ (322,713) | $ 112,993
Net income (loss) per limited partnership share |  | $ (0.80) | $ 0.24
Net income (loss) per weighted average limited partnership share |  | $ (0.81) | $ 0.25
Weighted average limited partnership shares outstanding |  | 400,000 | 460,000
[1] | Interest income does not exceed paid in kind of 5%.

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