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

Shares of United States Oil Fund LP (NYSEARCA:USO) gapped up before the market opened on Friday . The stock had previously closed at $77.30, but opened at $81.54. United States Oil Fund shares last traded at $80.99, with a volume of 1,723,047 shares.

United States Oil Fund Trading Up 4.0 %

The business has a 50 day simple moving average of $73.29 and a 200-day simple moving average of $74.45. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 22.97 and a beta of 0.10.

Institutional Investors Weigh In On United States Oil Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its position in United States Oil Fund by 2,024.3% during the 3rd quarter. International Assets Investment Management LLC now owns 147,531 shares of the company’s stock worth $10,315,000 after purchasing an additional 140,586 shares during the period. FFG Partners LLC raised its holdings in shares of United States Oil Fund by 2.2% during the 3rd quarter. FFG Partners LLC now owns 76,277 shares of the company’s stock valued at $5,333,000 after buying an additional 1,640 shares during the period. Clearline Capital LP purchased a new position in United States Oil Fund in the 3rd quarter worth approximately $5,323,000. Savoie Capital LLC acquired a new stake in United States Oil Fund in the third quarter valued at approximately $3,699,000. Finally, Harvest Fund Management Co. Ltd raised its stake in shares of United States Oil Fund by 15.1% during the third quarter. Harvest Fund Management Co. Ltd now owns 44,452 shares of the company’s stock valued at $3,108,000 after purchasing an additional 5,825 shares during the period.

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.