United States 12 Month Oil Fund, LP (NYSEARCA:USL) Files An 8-K Amendments to Articles of Incorporation or Bylaws; Change in Fiscal YearItem 5.03. Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
The Third Amended and Restated Agreement of Limited Partnership of the United States 12 Month Oil Fund, LP (“USL”) was entered into on December 15, 2017 and amends certain tax provisions. In particular, USL is adjusting the manner in which it applies the monthly allocation convention of profits and losses for shareholders as of January 1, 2018 in conformity with applicable Treasury regulations governing the allocation of profits and losses. The change to the monthly allocation convention and the other changes are reflected in Supplement 2 to the Prospectus dated April 28, 2017, in the updated sections entitled “Allocations of USL’s Profit and Loss.” located under “ADDITIONAL INFORMATION ABOUT USL, ITS INVESTMENT OBJECTIVE AND INVESTMENTS”; “U.S. Federal Income Tax Considerations”; “U.S. Shareholders”; “Tax Consequences of Ownership of Shares” and the new section “Tax Agent” located under “ADDITIONAL INFORMATION ABOUT USL, ITS INVESTMENT OBJECTIVE AND INVESTMENTS,” immediately following the section entitled “Backup Withholding.”
Item 9.01. Financial Statements and Exhibits.
Third Amended and Restated Agreement of Limited Partnership.
United States 12 Month Oil Fund, LP ExhibitEX-3.2 2 i17552_ex3-2.htm Exhibit 3.2 UNITED STATES 12 MONTH OIL FUND,…To view the full exhibit click
About United States 12 Month Oil Fund, LP (NYSEARCA:USL)
The United States 12 Month Oil Fund, LP (USL) is an exchange-traded security that tracks the price movements of West Texas Intermediate (WTI) light, sweet crude oil. USL issues shares that may be purchased and sold on the NYSE Arca, Inc. (NYSE Arca). The investment objective of USL is for the daily changes in percentage terms of its shares net asset value (NAV) to reflect the daily changes in percentage terms of the price of light, sweet crude oil delivered to Cushing, Oklahoma, as measured by the daily changes in the average of the prices of USL’s Benchmark Oil Futures Contracts, less USL’s expenses. USL invests primarily in listed crude oil futures contracts and other oil-related futures contracts. USL offers commodity exposure without using a commodity futures account. USL provides equity-like features, including, intra-day pricing, and market, limit and stop orders. It also provides portfolio holdings, market price, NAV and TNA on its Website each day.