United States Oil Fund (NYSEARCA:USO) Shares Gap Down – Should You Sell?

United States Oil Fund LP (NYSEARCA:USO)’s stock price gapped down prior to trading on Monday. The stock had previously closed at $148.41, but opened at $142.55. United States Oil Fund shares last traded at $143.93, with a volume of 1,852,415 shares.

United States Oil Fund Stock Down 3.1%

The company has a market cap of $1.83 billion, a price-to-earnings ratio of 19.22 and a beta of -0.05. The business has a fifty day simple moving average of $152.22 and a 200 day simple moving average of $125.24.

Insider Activity

In related news, major shareholder Financial Lp Hrt acquired 101,212 shares of United States Oil Fund stock in a transaction that occurred on Monday, September 14th. The stock was purchased at an average price of $158.02 per share, for a total transaction of $15,993,520.24. Following the completion of the purchase, the insider directly owned 61,589 shares of the company’s stock, valued at approximately $9,732,293.78. This trade represents a -255.44% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders have bought 148,833 shares of company stock valued at $23,385,278 and have sold 95,353 shares valued at $14,737,344.

Institutional Trading of United States Oil Fund

A number of institutional investors have recently added to or reduced their stakes in USO. MSH Capital Advisors LLC purchased a new position in United States Oil Fund in the third quarter valued at about $1,025,000. Moors & Cabot Inc. acquired a new stake in shares of United States Oil Fund during the 3rd quarter valued at approximately $222,000. Jacobi Capital Management LLC acquired a new stake in shares of United States Oil Fund during the 3rd quarter valued at approximately $269,000. Kestra Advisory Services LLC boosted its stake in shares of United States Oil Fund by 32.4% during the 3rd quarter. Kestra Advisory Services LLC now owns 36,732 shares of the company’s stock worth $5,350,000 after acquiring an additional 8,982 shares in the last quarter. Finally, Integrity Advisory Solutions LLC purchased a new stake in shares of United States Oil Fund during the 3rd quarter worth approximately $567,000. Hedge funds and other institutional investors own 67.47% of the company’s stock.

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.