Ann: Announcement regarding distributions, page-10

From what I can tell, it is a return of capital not a dividend as such. Historically the dividend has been unfranked, so I am essentially paying tax at my full marginal rate rather than at half. For that reason, I'm offloading today. The share price is around about 2 cents under based on my current NAV calculations (minus the 34 cents), so close enough.

I agree with others that this is a confusing stock to hold. From what I can understand, OOO does in fact hold WTI futures contracts and rolls them over at the same time as the S&P GSCI. Each month they take their fee and pay an additional amount in swap costs which also comes out of the NAV.

Their gutless decision to shift from front month to three month, has cost us all a lot. I'll take a profit, but nothing like what it would have been had they not been so short sighted (pun sort of intended).

For full disclosure, my trade completed at 10:40:29 at $6.04.