Form 8-K USCF Funds Trust For: Feb 28

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

FORM 8-K

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): February 28, 2018

 

USCF FUNDS TRUST

(Exact name of registrant as specified in its charter)

Delaware	001-38152	38-7159729
(State or other jurisdiction	(Commission File Number)	(I.R.S. Employer
of incorporation)		Identification No.)

 

	1999 Harrison Street, Suite 1530
	Oakland, California 94612
(510) 522-9600	(Address of principal executive offices) (Zip Code)
Registrant's telephone number,
including area code

 

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨

Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company x

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. x

 

  

 

 

Item 7.01. Regulation FD Disclosure.

 

On February 28, 2018, USCF Funds Trust (the “Registrant”), and United States 3x Oil Fund (“USOU”) and United States 3x Short Oil Fund (“USOD”), each a series of the Registrant, issued their monthly account statements for the month ended January 31, 2018, which are presented in the form of Statements of Income (Loss) and Statements of Changes in Net Asset Value, as required pursuant to Rule 4.22 under the Commodity Exchange Act. A copy of the monthly account statements is furnished as Exhibit 99.1 to this Current Report on Form 8-K and also can be found on USOU’s and USOD’s website at www.uscfinvestments.com. The information furnished in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in any such filing.

 

Item 9.01. Financial Statements and Exhibits.

 

(d) Exhibits.

 

Exhibit 99.1 Monthly Account Statements of the Registrant, USOU and USOD for the month ended January 31, 2018.

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

	USCF FUNDS TRUST
	By: United States Commodity Funds LLC, its sponsor
Date:  February 28, 2018	By:	/s/ Stuart P. Crumbaugh
	Name:	Stuart P. Crumbaugh
	Title:	Chief Financial Officer

 

Exhibit 99.1

 

 

USCF Funds Trust
United States 3x Oil Fund
Monthly Account Statement
For the Month Ended January 31, 2018
Statement of Income (Loss)
Income
Realized Trading Gain (Loss) on Futures		$	1,313,060
Unrealized Gain (Loss) on Market Value of Futures			(295,120	)
Interest Income			5,210
Total Income (Loss)		$	1,023,150
Expenses
Sponsor Management Fees		$	4,197
Brokerage Commissions			1,851
Total Expenses		$	6,048
Net Income (Loss)		$	1,017,102
Statement of Changes in Net Asset Value
Net Asset Value Beginning of Month 1/1/18		$	4,484,645
Net Income (Loss)			1,017,102
Net Asset Value End of Month		$	5,501,747
Net Asset Value Per Share (100,040 Shares)		$	55.00

 

To the Shareholders of United States 3x Oil Fund:

 

Pursuant to Rule 4.22(h) under the Commodity Exchange Act, the undersigned represents that, to the best of his knowledge and belief, the information contained in the Account Statement for the month ended January 31, 2018 is accurate and complete.

/s/ Stuart P. Crumbaugh
Stuart P. Crumbaugh
Chief Financial Officer
United States Commodity Funds LLC, Sponsor of United States 3x Oil Fund
United States Commodity Funds LLC
1999 Harrison Street, Suite 1530
Oakland, CA 94612

 

 

USCF Funds Trust
United States 3x Short Oil Fund
Monthly Account Statement
For the Month Ended January 31, 2018
Statement of Income (Loss)
Income
Realized Trading Gain (Loss) on Futures		$	(373,860	)
Unrealized Gain (Loss) on Market Value of Futures			135,070
Interest Income			1,163
ETF Transaction Fees			184
Total Income (Loss)		$	(237,443	)
Expenses
Sponsor Management Fees		$	954
Brokerage Commissions			512
Total Expenses		$	1,466
Net Income (Loss)		$	(238,909	)
Statement of Changes in Net Asset Value
Net Asset Value Beginning of Month 1/1/18		$	1,121,047
Additions (50,000 Shares)			461,090
Net Income (Loss)			(238,909	)
Net Asset Value End of Month		$	1,343,228
Net Asset Value Per Share (150,040 Shares)		$	8.95

 

To the Shareholders of United States 3x Short Oil Fund:

 

Pursuant to Rule 4.22(h) under the Commodity Exchange Act, the undersigned represents that, to the best of his knowledge and belief, the information contained in the Account Statement for the month ended January 31, 2018 is accurate and complete.

/s/ Stuart P. Crumbaugh
Stuart P. Crumbaugh
Chief Financial Officer
United States Commodity Funds LLC, Sponsor of United States 3x Short Oil Fund
United States Commodity Funds LLC
1999 Harrison Street, Suite 1530
Oakland, CA 94612

 

 

USCF Funds Trust
Monthly Account Statement
For the Month Ended January 31, 2018
Statement of Income (Loss)
Income
Realized Trading Gain (Loss) on Futures		$	939,200
Unrealized Gain (Loss) on Market Value of Futures			(160,050	)
Interest Income			6,373
ETF Transaction Fees			184
Total Income (Loss)		$	785,707
Expenses
Sponsor Management Fees		$	5,151
Brokerage Commissions			2,363
Total Expenses		$	7,514
Net Income (Loss)		$	778,193
Statement of Changes in Net Asset Value
Net Asset Value Beginning of Month 1/1/18		$	5,605,692
Additions (50,000 Shares)			461,090
Net Income (Loss)			778,193
Net Asset Value End of Month		$	6,844,975

 

To the Shareholders of USCF Funds Trust:

 

Pursuant to Rule 4.22(h) under the Commodity Exchange Act, the undersigned represents that, to the best of his knowledge and belief, the information contained in the Account Statement for the month ended January 31, 2018 is accurate and complete.

 

/s/ Stuart P. Crumbaugh
Stuart P. Crumbaugh
Chief Financial Officer
United States Commodity Funds LLC, Sponsor of USCF Funds Trust
United States Commodity Funds LLC
1999 Harrison Street, Suite 1530
Oakland, CA 94612

  

 

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