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): October 30, 2018
|
UNITED STATES COMMODITY INDEX FUNDS TRUST | ||
| (Exact name of registrant as specified in its charter) | ||
Delaware |
001-34833 |
27-1537655 |
| (State or other jurisdiction of incorporation) |
(Commission File Number) | (I.R.S. Employer Identification No.) |
|
1850 Mt. Diablo Boulevard, Suite 640 Walnut Creek, California 9459 |
||
| (510) 522-9600 | (Address of principal executive offices) (Zip Code) | |
| Registrant’s telephone number, including area code |
|
|
1999 Harrison Street, Suite 1530 Oakland, California 94612 |
||
(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 ¨
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. ¨
Item 7.01. Regulation FD Disclosure.
On October 30, 2018, United States Commodity Index Funds Trust (the “Registrant”), and United States Commodity Index Fund (“USCI”), United States Copper Index Fund (“CPER”) and United States Agriculture Index Fund (“USAG”), each a series of the Registrant, issued their monthly account statements for the month ended September 30, 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 USCI’s, CPER’s and USAG’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.
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.
| UNITED STATES COMMODITY INDEX FUNDS TRUST | ||
| By: | United States Commodity Funds LLC, its sponsor | |
| Date: October 30, 2018 | By: | /s/ Stuart P. Crumbaugh |
| Name: | Stuart P. Crumbaugh | |
| Title: | Chief Financial Officer | |
Exhibit 99.1
| United States Commodity Index Funds Trust | |
| United States Commodity Index Fund | |
| Monthly Account Statement | |
| For the Month Ended September 30, 2018 |
| Statement of Income (Loss) | ||||
| Income | ||||
| Realized Trading Gain (Loss) on Futures | $ | 3,460,504 | ||
| Unrealized Gain (Loss) on Market Value of Futures | 7,435,418 | |||
| Dividend Income | 40,339 | |||
| Interest Income | 925,320 | |||
| ETF Transaction Fees | 700 | |||
| Total Income (Loss) | $ | 11,862,281 | ||
| Expenses | ||||
| Management Fees | $ | 389,695 | ||
| Professional Fees | 57,751 | |||
| Brokerage Commissions | 25,598 | |||
| Non-interested Directors' Fees and Expenses | 5,520 | |||
| Prepaid Insurance Expense | 2,722 | |||
| Total Expenses | $ | 481,286 | ||
| Net Income (Loss) | $ | 11,380,995 | ||
| Statement of Changes in Net Asset Value | ||||
| Net Asset Value Beginning of Month 9/1/18 | $ | 593,601,334 | ||
| Withdrawals (150,000 Shares) | (6,266,175 | ) | ||
| Net Income (Loss) | 11,380,995 | |||
| Net Asset Value End of Month | $ | 598,716,154 | ||
| Net Asset Value Per Share (14,100,000 Shares) | $ | 42.46 | ||
To the Shareholders of United States Commodity Index 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 September 30, 2018 is accurate and complete.
| /s/ Stuart P. Crumbaugh |
| Stuart P. Crumbaugh | |
| Chief Financial Officer | |
| United States Commodity Funds LLC, Sponsor of United States Commodity Index Fund | |
| United States Commodity Funds LLC | |
| 1850 Mt. Diablo Boulevard, Suite 640 | |
| Walnut Creek, CA 94596 | |
| United States Commodity Index Funds Trust | |
| United States Copper Index Fund | |
| Monthly Account Statement | |
| For the Month Ended September 30, 2018 |
| Statement of Income (Loss) | ||||
| Income | ||||
| Realized Trading Gain (Loss) on Futures | $ | (7,913 | ) | |
| Unrealized Gain (Loss) on Market Value of Futures | 501,138 | |||
| Dividend Income | 741 | |||
| Interest Income | 15,446 | |||
| ETF Transaction Fees | 350 | |||
| Total Income (Loss) | $ | 509,762 | ||
| Expenses | ||||
| Management Fees | $ | 5,519 | ||
| Professional Fees | 5,656 | |||
| Brokerage Commissions | 48 | |||
| Non-interested Directors' Fees and Expenses | 96 | |||
| Prepaid Insurance Expense | 68 | |||
| Total Expenses | 11,387 | |||
| Expense Waiver | (4,594 | ) | ||
| Net Expenses | $ | 6,793 | ||
| Net Income (Loss) | $ | 502,969 | ||
| Statement of Changes in Net Asset Value | ||||
| Net Asset Value Beginning of Month 9/1/18 | $ | 10,044,921 | ||
| Additions (50,000 Shares) | 889,334 | |||
| Net Income (Loss) | 502,969 | |||
| Net Asset Value End of Month | $ | 11,437,224 | ||
| Net Asset Value Per Share (650,000 Shares) | $ | 17.60 | ||
To the Shareholders of United States Copper Index 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 September 30, 2018 is accurate and complete.
| /s/ Stuart P. Crumbaugh |
| Stuart P. Crumbaugh | |
| Chief Financial Officer | |
| United States Commodity Funds LLC, Sponsor of United States Copper Index Fund | |
| United States Commodity Funds LLC | |
| 1850 Mt. Diablo Boulevard, Suite 640 | |
| Walnut Creek, CA 94596 | |
| United States Commodity Index Funds Trust | |
| United States Agriculture Index Fund | |
| Monthly Account Statement | |
| For the Month Ended September 30, 2018 (In Liquidation)* |
| Statement of Income (Loss) | ||||
| Income | ||||
| Realized Trading Gain (Loss) on Futures | $ | (101,857 | ) | |
| Realized Trading Gain (Loss) on Short-Term Investments | (8 | ) | ||
| Realized Trading Gain (Loss) on Foreign Currency Transactions | (12 | ) | ||
| Unrealized Gain (Loss) on Market Value of Futures | 98,579 | |||
| Unrealized Gain (Loss) on Foreign Currency Translations | 2 | |||
| Dividend Income | (16 | ) | ||
| Interest Income | 300 | |||
| Total Income (Loss) | $ | (3,012 | ) | |
| Expenses | ||||
| Management Fees | $ | 169 | ||
| Professional Fees | 530 | |||
| Brokerage Commissions | 217 | |||
| Non-interested Directors' Fees and Expenses | 3 | |||
| Prepaid Insurance Expense | 22 | |||
| Total Expenses | 941 | |||
| Expense Waiver | (532 | ) | ||
| Net Expenses | $ | 409 | ||
| Net Income (Loss) | $ | (3,421 | ) | |
| Statement of Changes in Net Asset Value | ||||
| Net Asset Value Beginning of Month 9/1/18 | $ | 1,582,882 | ||
| Withdrawals (100,000 Shares) | (1,579,461 | ) | ||
| Net Income (Loss) | (3,421 | ) | ||
| Net Asset Value End of Month* | $ | 0 | ||
* The Fund ceased trading on the NYSE Arca on September 7, 2018 and the Fund’s liquidation date was September 12, 2018.
To the Shareholders of United States Agriculture Index 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 September 30, 2018 is accurate and complete.
| /s/ Stuart P. Crumbaugh |
| Stuart P. Crumbaugh | |
| Chief Financial Officer | |
| United States Commodity Funds LLC, Sponsor of United States Agriculture Index Fund | |
| United States Commodity Funds LLC | |
| 1850 Mt. Diablo Boulevard, Suite 640 | |
| Walnut Creek, CA 94596 | |
| United States Commodity Index Funds Trust | |
| Monthly Account Statement | |
| For the Month Ended September 30, 2018 |
| Statement of Income (Loss) | ||||
| Income | ||||
| Realized Trading Gain (Loss) on Futures | $ | 3,350,734 | ||
| Realized Trading Gain (Loss) on Short-Term Investments | (8 | ) | ||
| Realized Trading Gain (Loss) on Foreign Currency Transactions | (12 | ) | ||
| Unrealized Gain (Loss) on Market Value of Futures | 8,035,135 | |||
| Unrealized Gain (Loss) on Foreign Currency Translations | 2 | |||
| Dividend Income | 41,064 | |||
| Interest Income | 941,066 | |||
| ETF Transaction Fees | 1,050 | |||
| Total Income (Loss) | $ | 12,369,031 | ||
| Expenses | ||||
| Management Fees | $ | 395,383 | ||
| Professional Fees | 63,937 | |||
| Brokerage Commissions | 25,863 | |||
| Non-interested Directors' Fees and Expenses | 5,619 | |||
| Prepaid Insurance Expense | 2,812 | |||
| Total Expenses | 493,614 | |||
| Expense Waiver | (5,126 | ) | ||
| Net Expenses | $ | 488,488 | ||
| Net Income (Loss) | $ | 11,880,543 | ||
| Statement of Changes in Net Asset Value | ||||
| Net Asset Value Beginning of Month 9/1/18 | $ | 605,229,137 | ||
| Additions (50,000 Shares) | 889,334 | |||
| Withdrawals (250,000 Shares) | (7,845,636 | ) | ||
| Net Income (Loss) | 11,880,543 | |||
| Net Asset Value End of Month | $ | 610,153,378 | ||
To the Shareholders of the Series of the United States Commodity Index 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 September 30, 2018 is accurate and complete.
| /s/ Stuart P. Crumbaugh |
| Stuart P. Crumbaugh | |
| Chief Financial Officer | |
| United States Commodity Funds LLC, Sponsor of United States Commodity Index Funds Trust | |
| United States Commodity Funds LLC | |
| 1850 Mt. Diablo Boulevard, Suite 640 | |
| Walnut Creek, CA 94596 | |