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Condensed Statements of Operations - USD ($) | 3 Months Ended | 9 Months Ended
--- | --- | ---
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015
Gain (loss) on trading of commodity futures contracts: |  |  |  |
Realized gain (loss) on closed futures contracts | $ 501,686 | $ (7,454,670) | $ (11,487,686) | $ (19,494,981)
Change in unrealized gain (loss) on open futures contracts | (3,306,626) | (11,706,590) | 30,005,207 | 4,104,681
Dividend income | 20,080 | 1,254 | 39,001 | 4,825
Interest income | 77,074 | 11,401 | 196,097 | 24,345
ETF transaction fees | 2,800 | 3,850 | 12,600 | 12,600
Total income (loss) | (2,704,986) | (19,144,755) | 18,765,219 | (15,348,530)
Expenses |  |  |  |
General Partner management fees (Note 3) | 174,407 | 108,930 | 482,870 | 329,127
Professional fees | 20,210 | 22,243 | 63,186 | 80,703
Brokerage commissions | 4,869 | 5,205 | 17,285 | 15,370
Directors' fees and insurance | 2,860 | 2,311 | 7,895 | 7,674
License fees | 4,360 | 2,722 | 12,072 | 8,228
Total expenses | 206,706 | 141,411 | 583,308 | 441,102
Net income (loss) | $ (2,911,692) | $ (19,286,166) | $ 18,181,911 | $ (15,789,632)
Net income (loss) per limited partnership share | $ (0.59) | $ (6.39) | $ 1.75 | $ (6.14)
Net income (loss) per weighted average limited partnership share | $ (0.45) | $ (5.78) | $ 2.94 | $ (5.25)
Weighted average limited partnership shares outstanding | 6,411,413 | 3,335,870 | 6,190,511 | 3,007,143

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