United States Oil Fund (NYSEARCA:USO) Shares Gap Up – Still a Buy?

United States Oil Fund LP (NYSEARCA:USO) shares gapped up prior to trading on Monday . The stock had previously closed at $67.15, but opened at $69.99. United States Oil Fund shares last traded at $69.08, with a volume of 1,074,428 shares.

United States Oil Fund Stock Performance

The firm has a market capitalization of $935.76 million, a price-to-earnings ratio of 19.22 and a beta of 0.51. The business has a 50 day simple moving average of $68.16 and a 200-day simple moving average of $72.68.

Institutional Investors Weigh In On United States Oil Fund

A number of hedge funds have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. raised its position in shares of United States Oil Fund by 23.9% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,400 shares of the company’s stock worth $853,000 after acquiring an additional 2,200 shares in the last quarter. Truist Financial Corp increased its position in United States Oil Fund by 6.3% during the fourth quarter. Truist Financial Corp now owns 10,842 shares of the company’s stock worth $819,000 after buying an additional 645 shares during the period. IFP Advisors Inc increased its position in United States Oil Fund by 35.4% during the fourth quarter. IFP Advisors Inc now owns 765 shares of the company’s stock worth $58,000 after buying an additional 200 shares during the period. Cavalier Investments LLC increased its position in United States Oil Fund by 3.5% during the fourth quarter. Cavalier Investments LLC now owns 12,022 shares of the company’s stock worth $908,000 after buying an additional 405 shares during the period. Finally, Nwam LLC acquired a new position in United States Oil Fund during the fourth quarter worth approximately $221,000.

About United States Oil Fund

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.