United States Oil Fund (NYSEARCA:USO) Sees Strong Trading Volume

Shares of United States Oil Fund LP (NYSEARCA:USO) saw strong trading volume on Friday . 1,814,720 shares were traded during mid-day trading, a decline of 61% from the previous session’s volume of 4,643,127 shares.The stock last traded at $78.65 and had previously closed at $78.78.

United States Oil Fund Stock Up 0.2 %

The firm has a market cap of $1.22 billion, a P/E ratio of 24.70 and a beta of 0.19. The firm’s 50-day simple moving average is $76.48 and its 200 day simple moving average is $73.14.

Institutional Trading of United States Oil Fund

Several hedge funds and other institutional investors have recently modified their holdings of the business. Morgan Stanley raised its position in shares of United States Oil Fund by 14.7% in the fourth quarter. Morgan Stanley now owns 475,823 shares of the company’s stock valued at $33,360,000 after purchasing an additional 61,117 shares during the period. BlackRock Inc. grew its stake in United States Oil Fund by 4.2% during the third quarter. BlackRock Inc. now owns 338,102 shares of the company’s stock valued at $22,072,000 after acquiring an additional 13,587 shares in the last quarter. Victory Capital Management Inc. purchased a new position in United States Oil Fund during the third quarter valued at approximately $20,410,000. International Assets Investment Management LLC grew its stake in United States Oil Fund by 8,512.4% during the fourth quarter. International Assets Investment Management LLC now owns 222,544 shares of the company’s stock valued at $14,833,000 after acquiring an additional 219,960 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in United States Oil Fund by 7,335.2% during the third quarter. Tower Research Capital LLC TRC now owns 174,282 shares of the company’s stock valued at $14,092,000 after acquiring an additional 171,938 shares in the last quarter.

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.