FineMark National Bank & Trust Takes Position in United States Oil Fund LP (NYSEARCA:USO)

FineMark National Bank & Trust bought a new position in shares of United States Oil Fund LP (NYSEARCA:USO) in the fourth quarter, HoldingsChannel reports. The institutional investor bought 4,096 shares of the company’s stock, valued at approximately $309,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Harvest Fund Management Co. Ltd raised its stake in United States Oil Fund by 75.1% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 77,836 shares of the company’s stock valued at $5,878,000 after purchasing an additional 33,384 shares in the last quarter. FFG Partners LLC lifted its stake in United States Oil Fund by 2.2% in the 3rd quarter. FFG Partners LLC now owns 76,277 shares of the company’s stock valued at $5,333,000 after purchasing an additional 1,640 shares during the last quarter. Clearline Capital LP acquired a new stake in United States Oil Fund in the third quarter valued at approximately $5,323,000. Savoie Capital LLC bought a new stake in shares of United States Oil Fund during the third quarter worth $3,699,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of United States Oil Fund by 279,273.3% during the third quarter. JPMorgan Chase & Co. now owns 41,906 shares of the company’s stock worth $2,930,000 after buying an additional 41,891 shares in the last quarter.

United States Oil Fund Stock Performance

Shares of USO opened at $75.42 on Thursday. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 21.87 and a beta of 0.58. United States Oil Fund LP has a 52 week low of $66.02 and a 52 week high of $84.58. The stock has a fifty day moving average of $75.87 and a 200-day moving average of $74.23.

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.