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Condensed Statements of Operations - USD ($) | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016
Gain (loss) on trading of commodity futures contracts: |  |  |  |
Realized gain (loss) on closed futures contracts | $ 474,575 | $ (2,593,212) | $ 6,619,094 | $ (11,989,372)
Change in unrealized gain (loss) on open futures contracts | (10,335,615) | 22,450,323 | (27,523,684) | 33,311,833
Dividend income | 43,444 | 13,521 | 86,469 | 18,921
Interest income | 144,453 | 74,966 | 252,931 | 119,023
ETF transaction fees | 2,800 | 2,450 | 4,550 | 9,800
Total income (loss) | (9,670,343) | 19,948,048 | (20,560,640) | 21,470,205
Expenses |  |  |  |
General Partner management fees (Note 3) | 159,419 | 177,299 | 332,486 | 308,463
Professional fees | 53,800 | 20,021 | 125,800 | 42,976
Brokerage commissions | 4,709 | 3,747 | 8,841 | 12,416
Directors' fees and insurance | 3,468 | 2,754 | 6,588 | 5,035
License fees | 3,985 | 4,433 | 8,312 | 7,712
Total expenses | 225,381 | 208,254 | 482,027 | 376,602
Net income (loss) | $ (9,895,724) | $ 19,739,794 | $ (21,042,667) | $ 21,093,603
Net income (loss) per limited partnership share | $ (1.73) | $ 2.99 | $ (3.6) | $ 2.34
Net income (loss) per weighted average limited partnership share | $ (1.63) | $ 3.04 | $ (3.48) | $ 3.47
Weighted average limited partnership shares outstanding | 6,056,044 | 6,497,802 | 6,047,790 | 6,078,846

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