United States Oil Fund LP (NYSEARCA:USO – Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $132.21, but opened at $128.09. United States Oil Fund shares last traded at $128.30, with a volume of 1,430,052 shares changing hands.
United States Oil Fund Trading Down 3.3%
The firm has a 50-day simple moving average of $119.68 and a two-hundred day simple moving average of $118.81. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 19.22 and a beta of -0.03.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of USO. NewEdge Advisors LLC lifted its holdings in United States Oil Fund by 1.6% in the first quarter. NewEdge Advisors LLC now owns 11,948 shares of the company’s stock valued at $924,000 after acquiring an additional 187 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of United States Oil Fund by 65.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 66,225 shares of the company’s stock valued at $4,842,000 after purchasing an additional 26,102 shares in the last quarter. Cresset Asset Management LLC lifted its stake in shares of United States Oil Fund by 4.1% in the 2nd quarter. Cresset Asset Management LLC now owns 7,736 shares of the company’s stock valued at $566,000 after purchasing an additional 303 shares during the period. Raymond James Financial Inc. acquired a new position in shares of United States Oil Fund in the 2nd quarter valued at $38,000. Finally, PDT Partners LLC purchased a new stake in United States Oil Fund during the second quarter worth $336,000. 67.47% of the stock is currently owned by hedge funds and other institutional investors.
United States Oil Fund Company Profile
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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