Integrity Advisory Solutions LLC bought a new position in shares of United States Oil Fund LP (NYSEARCA:USO – Free Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,891 shares of the company’s stock, valued at approximately $567,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Hamilton Wealth LLC bought a new position in United States Oil Fund in the 1st quarter worth approximately $55,001,000. Bank of America Corp DE raised its stake in shares of United States Oil Fund by 117.1% during the 1st quarter. Bank of America Corp DE now owns 143,881 shares of the company’s stock valued at $18,309,000 after purchasing an additional 77,617 shares during the period. Parker Investment Management LLC purchased a new stake in United States Oil Fund during the 1st quarter worth about $6,364,000. Franchise GP Ltd purchased a new position in United States Oil Fund during the 3rd quarter valued at about $5,953,000. Finally, Arkadios Wealth Advisors purchased a new position in United States Oil Fund during the 1st quarter valued at about $5,326,000. Institutional investors own 67.47% of the company’s stock.
United States Oil Fund Trading Down 8.1%
Shares of United States Oil Fund stock opened at $145.41 on Thursday. The company’s 50-day moving average price is $151.43 and its 200-day moving average price is $124.47. United States Oil Fund LP has a 12-month low of $65.99 and a 12-month high of $171.82. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 19.22 and a beta of -0.05.
Insiders Place Their Bets
In other United States Oil Fund news, major shareholder Financial Lp Hrt sold 17,023 shares of the stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $157.58, for a total value of $2,682,484.34. Following the sale, the insider directly owned 128,543 shares in the company, valued at $20,255,805.94. This represents a 11.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have purchased 148,833 shares of company stock worth $23,385,278 and have sold 95,353 shares worth $14,737,344.
More United States Oil Fund News
Here are the key news stories impacting United States Oil Fund this week:
- Positive Sentiment: OPEC+ kept December output steady while maintaining its production cuts, with Iran-related disruptions adding a supply-risk premium that could support crude prices. OPEC+ Holds Output Steady, Maintains 2M BPD Cuts: ETFs in Focus
- Positive Sentiment: U.S. commercial crude inventories fell for a fifth consecutive week, and distillate stocks reached their lowest level in more than two decades—signals of tighter domestic supply that may support oil prices. U.S. Crude Oil Stockpiles Post Fifth Straight Weekly Drop
- Negative Sentiment: Physical-market conditions reportedly weakened: refiners are turning down offers and Nigerian cargoes are going unsold. The report suggests futures may still reflect geopolitical risk even as near-term demand for physical oil cools. Physical Oil Just Went From a Bidding War to a Fire Sale
- Negative Sentiment: JPMorgan said rising exports and weak demand are pushing the global oil market into surplus, a bearish outlook for crude-linked USO. JPMorgan says rising exports, weak demand push global oil market into surplus
- Negative Sentiment: Oil prices edged lower as investors awaited U.S. midterm election results, extending pressure on the fund. Oil edges down as investors await US midterm election results
- Negative Sentiment: The U.S. plans to loan about a third of its heating-oil reserve in an effort to tame prices, adding a potential source of supply and price restraint. US to loan about a third of heating oil reserve in bid to tame prices
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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