National Wealth Management Group LLC Trims Holdings in United States Oil Fund LP (NYSEARCA:USO)

National Wealth Management Group LLC reduced its holdings in shares of United States Oil Fund LP (NYSEARCA:USO) by 37.5% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 7,283 shares of the company’s stock after selling 4,376 shares during the period. National Wealth Management Group LLC’s holdings in United States Oil Fund were worth $509,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in USO. CENTRAL TRUST Co bought a new position in United States Oil Fund during the third quarter worth $104,000. Clear Investment Research LLC lifted its stake in United States Oil Fund by 44.3% during the second quarter. Clear Investment Research LLC now owns 1,589 shares of the company’s stock worth $126,000 after purchasing an additional 488 shares during the last quarter. SG Americas Securities LLC lifted its stake in United States Oil Fund by 47.6% during the third quarter. SG Americas Securities LLC now owns 2,548 shares of the company’s stock worth $178,000 after purchasing an additional 822 shares during the last quarter. CWM LLC lifted its stake in United States Oil Fund by 134.2% during the third quarter. CWM LLC now owns 2,558 shares of the company’s stock worth $179,000 after purchasing an additional 1,466 shares during the last quarter. Finally, Oppenheimer & Co. Inc. bought a new position in United States Oil Fund during the third quarter worth $235,000.

United States Oil Fund Price Performance

Shares of USO opened at $71.72 on Thursday. The business’s fifty day moving average price is $72.92 and its 200 day moving average price is $74.87. United States Oil Fund LP has a 12-month low of $63.84 and a 12-month high of $83.41. The stock has a market capitalization of $1.24 billion, a PE ratio of 22.97 and a beta of 0.10.

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.