United States Oil Fund LP (NYSEARCA:USO) Shares Sold by Meridian Wealth Management LLC

Meridian Wealth Management LLC lessened its stake in shares of United States Oil Fund LP (NYSEARCA:USO) by 12.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,723 shares of the company’s stock after selling 3,057 shares during the quarter. Meridian Wealth Management LLC owned about 0.12% of United States Oil Fund worth $1,449,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Thrivent Financial for Lutherans grew its position in United States Oil Fund by 21.4% in the third quarter. Thrivent Financial for Lutherans now owns 6,943 shares of the company’s stock worth $485,000 after buying an additional 1,225 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new position in United States Oil Fund in the third quarter worth approximately $235,000. Mutual Advisors LLC acquired a new position in United States Oil Fund in the third quarter worth approximately $1,332,000. Wealth Enhancement Advisory Services LLC acquired a new position in United States Oil Fund in the third quarter worth approximately $254,000. Finally, CENTRAL TRUST Co purchased a new position in United States Oil Fund during the 3rd quarter worth approximately $104,000.

United States Oil Fund Stock Performance

NYSEARCA USO opened at $74.25 on Friday. United States Oil Fund LP has a twelve month low of $63.84 and a twelve month high of $83.41. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of 22.97 and a beta of 0.10. The firm’s 50 day moving average price is $72.90 and its two-hundred day moving average price is $74.94.

United States Oil Fund 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.