United States Oil Fund LP (NYSEARCA:USO)’s share price traded down 5.1% during mid-day trading on Thursday . The company traded as low as $11.92 and last traded at $12.09. 45,560,293 shares changed hands during mid-day trading, an increase of 94% from the average session volume of 23,484,625 shares. The stock had previously closed at $12.74.
Hedge funds and other institutional investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of United States Oil Fund in the first quarter valued at approximately $25,000. St. Johns Investment Management Company LLC acquired a new stake in shares of United States Oil Fund in the first quarter valued at approximately $73,000. Legacy Advisors LLC acquired a new stake in shares of United States Oil Fund in the first quarter valued at approximately $76,000. Westside Investment Management Inc. increased its stake in shares of United States Oil Fund by 900.0% in the fourth quarter. Westside Investment Management Inc. now owns 10,000 shares of the company’s stock valued at $97,000 after purchasing an additional 9,000 shares during the period. Finally, Mutual Advisors LLC acquired a new stake in shares of United States Oil Fund in the fourth quarter valued at approximately $99,000.
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United States Oil Fund Company Profile (NYSEARCA:USO)
United States Oil Fund, LP (USO) is a commodity pool that issues limited partnership interests (shares) traded on the NYSE Arca, Inc (the NYSE Arca). The investment objective of USO is for the daily changes in percentage terms of its shares’ per share net asset value (NAV) to reflect the daily changes in percentage terms of the spot price of light, sweet crude oil delivered to Cushing, Oklahoma, as measured by the daily changes in the price of the futures contract for light, sweet crude oil traded on the New York Mercantile Exchange, that is the near month contract to expire, except when the near month contract is within over two weeks of expiration, in which case it will be measured by the futures contract that is the next month contract to expire, less USO’s expenses.
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