United States Oil Fund (NYSEARCA:USO) Shares Gap Down – What’s Next?

by · The Markets Daily

United States Oil Fund LP (NYSEARCA:USO – Get Free Report)’s share price gapped down prior to trading on Monday. The stock had previously closed at $168.83, but opened at $159.52. United States Oil Fund shares last traded at $158.64, with a volume of 2,533,132 shares changing hands.

United States Oil Fund Price Performance

The firm has a market cap of $1.81 billion, a P/E ratio of 19.22 and a beta of 0.01. The firm’s 50-day moving average price is $150.09 and its 200 day moving average price is $123.26.

Insider Transactions at United States Oil Fund

In other United States Oil Fund news, major shareholder Financial Lp Hrt sold 17,023 shares of the company’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $157.58, for a total transaction of $2,682,484.34. Following the sale, the insider owned 128,543 shares in the company, valued at $20,255,805.94. This represents a 11.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In the last 90 days, insiders purchased 148,833 shares of company stock worth $23,385,278 and sold 95,353 shares worth $14,737,344.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Integrity Advisory Solutions LLC acquired a new stake in shares of United States Oil Fund during the 3rd quarter valued at approximately $567,000. Tucker Asset Management LLC acquired a new position in United States Oil Fund in the third quarter worth $237,000. Greenfield Seitz Capital Management LLC acquired a new position in United States Oil Fund in the third quarter worth $216,000. Signature Equity Partners LLC boosted its holdings in United States Oil Fund by 240.6% in the third quarter. Signature Equity Partners LLC now owns 579 shares of the company’s stock worth $84,000 after purchasing an additional 409 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in United States Oil Fund in the third quarter worth $1,427,000. Institutional investors and hedge funds own 67.47% of the company’s stock.

About United States Oil Fund

(Get Free Report)

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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