UNITED STATES
                        SECURITIES & EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549
                             ----------------------

                                  SCHEDULE 13G

                    UNDER THE SECURITIES EXCHANGE ACT OF 1934

                                (Amendment No. )*


                   CurrencyShares British Pound Sterling Trust
       -----------------------------------------------------------------
                                (Name of Issuer)


                            Redeemable Capital Shares
       -----------------------------------------------------------------
                         (Title of Class of Securities)


                                   23129S 10 6
       -----------------------------------------------------------------
                                 (CUSIP Number)


                                   May 8, 2008
       -----------------------------------------------------------------
             (Date of event which requires filing of this statement)


     Check the  appropriate  box to  designate  the rule  pursuant to which this
Schedule 13G is filed:

     [X]  Rule 13d-1(b)
     [ ]  Rule 13d-1(c)
     [ ]  Rule 13d-1(d)


              (Page 1 of 8 Pages)
----------------
* The remainder of this cover page shall be filled out for a reporting  person's
initial filing on this form with respect to the subject class of securities, and
for any  subsequent  amendment  containing  information  which  would  alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for purposes of Section 18 of the Securities  Exchange Act of 1934
("Act") or otherwise  subject to the  liabilities of that section of the Act but
shall be subject to all other provisions of the Act (however, see the Notes).







CUSIP No. 23129S 10 6                    13G                  Page 2 of 8 Pages


--------------------------------------------------------------------------------
    1  NAME OF REPORTING PERSON
       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

       Hussman  Strategic  Total Return Fund,  an  investment  portfolio of
       Hussman Investment Trust                              55-0787206
--------------------------------------------------------------------------------
    2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

       (a) |   |
       (b) | X |

--------------------------------------------------------------------------------
    3  SEC USE ONLY

--------------------------------------------------------------------------------
    4  CITIZENSHIP OR PLACE OF ORGANIZATION
       Ohio U.S.A.
--------------------------------------------------------------------------------
                         5      SOLE VOTING POWER
 NUMBER OF                      0
  SHARES         ---------------------------------------------------------------
BENEFICIALLY             6      SHARED VOTING POWER
  OWNED BY                      75,000
    EACH         ---------------------------------------------------------------
 REPORTING               7      SOLE DISPOSITIVE POWER
PERSON WITH                     0
                 ---------------------------------------------------------------
                         8      SHARED DISPOSITIVE POWER
                                75,000
--------------------------------------------------------------------------------
    9  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
       75,000
--------------------------------------------------------------------------------
    10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* | |

--------------------------------------------------------------------------------
    11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
       16.67%
--------------------------------------------------------------------------------
    12 TYPE OF REPORTING PERSON*
       IV
--------------------------------------------------------------------------------









CUSIP No. 23129S 10 6                    13G                  Page 3 of 8 Pages


--------------------------------------------------------------------------------
    1  NAME OF REPORTING PERSON
       I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

       Hussman Econometrics Advisors, Inc.              38-3083913
--------------------------------------------------------------------------------
    2  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

       (a) |   |
       (b) | X |

--------------------------------------------------------------------------------
    3  SEC USE ONLY

--------------------------------------------------------------------------------
    4  CITIZENSHIP OR PLACE OF ORGANIZATION
       Maryland  U.S.A.
--------------------------------------------------------------------------------
                         5      SOLE VOTING POWER
 NUMBER OF                      0
  SHARES         ---------------------------------------------------------------
BENEFICIALLY             6      SHARED VOTING POWER
  OWNED BY                      75,000
    EACH         ---------------------------------------------------------------
 REPORTING               7      SOLE DISPOSITIVE POWER
PERSON WITH                     0
                 ---------------------------------------------------------------
                         8      SHARED DISPOSITIVE POWER
                                75,000
--------------------------------------------------------------------------------
    9  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
       75,000
--------------------------------------------------------------------------------
    10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* | |

--------------------------------------------------------------------------------
    11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
       16.67%
--------------------------------------------------------------------------------
    12 TYPE OF REPORTING PERSON*
       IA
--------------------------------------------------------------------------------







CUSIP No. 23129S 10 6                    13G                  Page 4 of 8 Pages


Item 1(a).     Name of Issuer:

      The name of the issuer is CurrencyShares British Pound Sterling Trust (the
"Issuer").

Item  1(b).    Address of Issuer's Principal Executive Offices:

      Rydex  Investments,  9601 Blackwell Road, Suite 500,  Rockville,  Maryland
      20850

Item 2(a).     Name of Person Filing:

     This statement is filed by:

      (i) Hussman  Strategic  Total  Return  Fund (the  "Fund"),  an  investment
portfolio of Hussman  Investment  Trust (the  "Trust"),  an open-end  management
investment company, with respect to the Capital Shares directly owned by it; and

      (ii) Hussman  Econometrics  Advisors,  Inc.  (the  "Adviser"),  a Maryland
corporation, with respect to the Capital Shares directly owned by the Fund.

      The foregoing persons are hereinafter  sometimes  referred to collectively
as the "Reporting Persons." Any disclosures herein with respect to persons other
than the  Reporting  Persons are made on  information  and belief  after  making
inquiry to the appropriate party.

Item 2(b).     Address of Principal Business Office or, if None, Residence:

     The address of the business office of each of the Reporting  Persons is c/o
Ultimus Fund Solutions,  LLC, 225 Pictoria Drive,  Suite 450,  Cincinnati,  Ohio
45246.

Item 2(c).     Citizenship:

      The Trust is an  unincorporated  business  trust that was organized  under
Ohio law on June 1, 2000. The Adviser is a Maryland corporation.

Item 2(d).     Title of Class of Securities:

      Redeemable Capital Shares




CUSIP No. 23129S 10 6                    13G                  Page 5 of 8 Pages

Item 2(e).     CUSIP Number:
               23129S 10 6

Item 3. If this  statement  is filed  pursuant to Rules  13d-1(b) or 13d-2(b) or
(c), check whether the person filing is a:

      (a)   [ ] Broker or dealer registered under Section 15 of the Act,

      (b)   [ ] Bank as defined in Section 3(a)(6) of the Act,

      (c)   [ ] Insurance Company as defined in Section 3(a)(19) of the Act,

      (d)   [x] Investment  Company registered under Section 8 of the Investment
                Company Act of 1940, [with respect to the Trust]

      (e)   [x] Investment Adviser in accordance with Rule 13d-1  (b)(1)(ii)(E),
                [with respect to the Adviser]

      (f)   [ ] Employee Benefit Plan or Endowment Fund in accordance with 13d-1
                (b)(1)(ii)(F),

      (g)   [ ] Parent Holding Company or control person in accordance with Rule
                13d-1 (b)(1)(ii)(G),

      (h)   [ ] Savings  Association  as defined in Section  3(b) of the Federal
                Deposit Insurance Act,

      (i)   [ ] Church  Plan  that  is  excluded  from   the  definition  of  an
                investment  company under Section 3(c)(14) of the Investment
                Company Act of 1940,

      (j)   [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).

If this statement is filed pursuant to 13d-1(c), check this box: [ ]

Item  4. Ownership.

      A.    Hussman Strategic Total Return Fund
            (a)   Amount beneficially owned: 75,000
            (b)   Percent of class:  16.67% The  percentages  used herein and in
                  the  rest of Item 4 are  calculated  based  upon  the  450,000
                  Capital  Shares  issued and  outstanding  as of May 8, 2008 as
                  reflected  in the Form  10-Q for the  quarterly  period  ended
                  April 30, 2008 filed by the Company on June 13, 2008.




CUSIP No. 23129S 10 6                    13G                  Page 6 of 8 Pages

            (c)
                  (i)   Sole power to vote or direct the vote:   0
                  (ii)  Shared power to vote or direct the vote:  75,000
                  (iii) Sole power to dispose or direct the disposition:  0
                  (iv)  Shared  power to  dispose  or  direct  the  disposition:
                        75,000

      B.    Hussman Econometrics Advisors, Inc.
            (a)   Amount beneficially owned:  75,000
            (b)   Percent of class:  16.67% The  percentages  used herein and in
                  the  rest of Item 4 are  calculated  based  upon  the  450,000
                  Capital  Shares  issued and  outstanding  as of May 8, 2008 as
                  reflected  in the Form  10-Q for the  quarterly  period  ended
                  April 30, 2008 filed by the Company on June 13, 2008.

            (c)
                  (i)   Sole power to vote or direct the vote: 0
                  (ii)  Shared power to vote or direct the vote: 75,000
                  (iii) Sole power to dispose or direct the disposition: 0
                  (iv)  Shared  power to  dispose  or  direct  the  disposition:
                        75,000

      The Fund has the power to  dispose  of and the  power to vote the  Capital
Shares  beneficially  owned by it,  which power may be exercised by its adviser,
Hussman Econometrics Advisors, Inc. By reason of the provisions of Rule 13d-3 of
the Securities  Exchange Act of 1934, the Adviser may be deemed to  beneficially
own the Capital Shares owned by the Fund.

Item  5. Ownership of Five Percent or Less of a Class.

     Not applicable.



CUSIP No. 23129S 10 6                    13G                  Page 7 of 8 Pages

Item  6. Ownership of More than Five Percent on Behalf of Another Person.

      Hussman Econometrics Advisors, Inc. has the power to direct the affairs of
the Fund,  including  decisions  respecting the disposition of the proceeds from
the  sale  of the  Capital  Shares.

Item  7.  Identification and Classification of the Subsidiary Which Acquired the
      Security Being Reported on by the Parent Holding Company.

      Not applicable.

Item  8. Identification and Classification of Members of the Group.

      Not   applicable.

Item  9. Notice of Dissolution of Group.

      Not   applicable.

Item  10. Certification.

      Each of the Reporting Persons hereby makes the following certification:

      By signing below each Reporting  Person certifies that, to the best of its
knowledge and belief, the securities referred to above were not acquired and are
not held for the purpose of or with the effect of changing  or  influencing  the
control of the issuer of the  securities  and were not acquired and are not held
in connection with or as a participant in any transaction having that purpose or
effect.










CUSIP No. 23129S 10 6                    13G                  Page 8 of 8 Pages

                                   SIGNATURES

After  reasonable  inquiry  and to the best of our  knowledge  and  belief,  the
undersigned  certify that the  information  set forth in this statement is true,
complete and correct.


DATED:  June 23, 2008

                       HUSSMAN INVESTMENT TRUST

                       By:

                       /s/  John P. Hussman
                       ------------------------------
                       Name:  John P. Hussman
                       Title: President


                       HUSSMAN ECONOMETRICS ADVISORS, INC.

                       By:

                       /s/ John P. Hussman
                       ------------------------------
                       Name:  John P. Hussman
                       Title: President






                       CUSIP No. 23129S 10 6          13G


                                    EXHIBIT 1

                           JOINT ACQUISITION STATEMENT

                            PURSUANT TO RULE 13d-1(k)

      The  undersigned  acknowledge  and agree that the  foregoing  statement on
Schedule  13G,  is  filed  on  behalf  of each of the  undersigned  and that all
subsequent  amendments  to this  statement  on Schedule  13G,  shall be filed on
behalf of each of the  undersigned  without the  necessity of filing  additional
joint  acquisition  statements.  The undersigned  acknowledge that each shall be
responsible for the timely filing of such  amendments,  and for the completeness
and accuracy of the  information  concerning  him or it contained  therein,  but
shall not be responsible  for the  completeness  and accuracy of the information
concerning the others, except to the extent that he or it knows or has reason to
believe that such information is inaccurate.

DATED:  June 23, 2008

                       HUSSMAN INVESTMENT TRUST

                       By:

                       /s/  John P. Hussman
                       ------------------------------
                       Name:  John P. Hussman
                       Title: President


                       HUSSMAN ECONOMETRICS ADVISORS, INC.

                       By:

                       /s/ John P. Hussman
                       ------------------------------
                       Name:  John P. Hussman
                       Title: President