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

United States Oil Fund LP (NYSEARCA:USO) gapped down prior to trading on Tuesday . The stock had previously closed at $77.82, but opened at $75.70. United States Oil Fund shares last traded at $77.95, with a volume of 2,538,465 shares.

United States Oil Fund Stock Down 0.2 %

The company’s 50-day moving average price is $75.94 and its 200-day moving average price is $74.37. The firm has a market cap of $1.35 billion, a price-to-earnings ratio of 22.97 and a beta of 0.10.

Institutional Investors Weigh In On United States Oil Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. International Assets Investment Management LLC lifted its stake in United States Oil Fund by 2,024.3% during the third 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 in the last quarter. FFG Partners LLC lifted its stake in United States Oil Fund by 2.2% during the 3rd quarter. FFG Partners LLC now owns 76,277 shares of the company’s stock worth $5,333,000 after acquiring an additional 1,640 shares in the last quarter. Clearline Capital LP purchased a new position in United States Oil Fund during the 3rd quarter valued at about $5,323,000. Savoie Capital LLC purchased a new position in United States Oil Fund during the 3rd quarter valued at about $3,699,000. Finally, Harvest Fund Management Co. Ltd increased its stake in 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 worth $3,108,000 after purchasing an additional 5,825 shares during the period.

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.