United States Oil Fund LP (NYSEARCA:USO – Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $83.42 and last traded at $83.34, with a volume of 1667567 shares changing hands. The stock had previously closed at $81.67.
United States Oil Fund Price Performance
The business has a 50 day simple moving average of $74.12 and a 200 day simple moving average of $74.55. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of 22.97 and a beta of 0.10.
Institutional Trading of United States Oil Fund
Hedge funds have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB acquired a new stake in shares of United States Oil Fund in the third quarter valued at $31,000. CENTRAL TRUST Co purchased a new stake in United States Oil Fund during the 3rd quarter worth about $104,000. SG Americas Securities LLC raised its position in United States Oil Fund by 47.6% in the 3rd quarter. SG Americas Securities LLC now owns 2,548 shares of the company’s stock valued at $178,000 after purchasing an additional 822 shares in the last quarter. CWM LLC boosted its stake in shares of United States Oil Fund by 134.2% in the 3rd quarter. CWM LLC now owns 2,558 shares of the company’s stock valued at $179,000 after buying an additional 1,466 shares during the period. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of United States Oil Fund during the third quarter worth about $235,000.
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.
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