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

Shares of 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 trading hands.

United States Oil Fund Trading Down 1.6 %

The stock’s 50 day moving average price is $76.14 and its 200 day moving average price is $74.38. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 22.97 and a beta of 0.10.

Hedge Funds Weigh In On United States Oil Fund

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB bought a new stake in United States Oil Fund in the third quarter worth approximately $31,000. IFP Advisors Inc boosted its stake in United States Oil Fund by 35.4% during the 4th quarter. IFP Advisors Inc now owns 765 shares of the company’s stock worth $58,000 after acquiring an additional 200 shares during the last quarter. St. Johns Investment Management Company LLC bought a new position in United States Oil Fund in the fourth quarter valued at approximately $97,000. CENTRAL TRUST Co bought a new position in United States Oil Fund in the third quarter valued at approximately $104,000. Finally, US Bancorp DE lifted its stake in United States Oil Fund by 55.8% in the fourth quarter. US Bancorp DE now owns 1,676 shares of the company’s stock valued at $127,000 after buying an additional 600 shares in the last quarter.

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.