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

United States Oil Fund LP (NYSEARCA:USO) gapped down before the market opened on Tuesday . The stock had previously closed at $82.52, but opened at $80.62. United States Oil Fund shares last traded at $81.05, with a volume of 1,218,702 shares changing hands.

United States Oil Fund Trading Down 1.5 %

The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 22.97 and a beta of 0.10. The firm’s 50-day moving average is $75.10 and its 200-day moving average is $74.55.

Institutional Investors Weigh In On United States Oil Fund

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wilmington Savings Fund Society FSB purchased a new stake in shares of United States Oil Fund during the third quarter valued at approximately $31,000. St. Johns Investment Management Company LLC bought a new position in United States Oil Fund in the 4th quarter valued at $97,000. CENTRAL TRUST Co purchased a new stake in shares of United States Oil Fund during the 3rd quarter valued at $104,000. SG Americas Securities LLC raised its stake in shares of United States Oil Fund by 47.6% during the 3rd 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 period. Finally, CWM LLC boosted its holdings in shares of United States Oil Fund by 134.2% in the 3rd quarter. CWM LLC now owns 2,558 shares of the company’s stock worth $179,000 after buying an additional 1,466 shares during 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.