United States Oil Fund (NYSEARCA:USO) Shares Gap Down – Time to Sell?

United States Oil Fund LP (NYSEARCA:USO)’s stock price 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 trading hands.

United States Oil Fund Stock Performance

The company has a 50 day moving average of $119.68 and a two-hundred day moving average of $118.81. The stock has a market cap of $2.00 billion, a PE ratio of 19.22 and a beta of -0.03.

Institutional Trading of United States Oil Fund

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC purchased a new position in shares of United States Oil Fund during the 1st quarter valued at approximately $57,000. Raymond James Financial Inc. purchased a new stake in United States Oil Fund in the 2nd quarter worth $38,000. PNC Financial Services Group Inc. acquired a new position in United States Oil Fund during the fourth quarter worth $48,000. Advisory Services Network LLC purchased a new position in United States Oil Fund during the third quarter valued at $57,000. Finally, Fifth Third Bancorp lifted its holdings in United States Oil Fund by 11.6% during the first quarter. Fifth Third Bancorp now owns 1,116 shares of the company’s stock valued at $142,000 after purchasing an additional 116 shares in the last quarter. 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.