SVB Wealth LLC Makes New Investment in United States Oil Fund LP (NYSEARCA:USO)

SVB Wealth LLC acquired a new stake in shares of United States Oil Fund LP (NYSEARCA:USO) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 12,816 shares of the company’s stock, valued at approximately $968,000.

Several other hedge funds and other institutional investors have also made changes to their positions in USO. Wealth Enhancement Advisory Services LLC bought a new position in shares of United States Oil Fund during the third quarter valued at approximately $254,000. Oppenheimer & Co. Inc. purchased a new position in United States Oil Fund during the 3rd quarter valued at $235,000. Thrivent Financial for Lutherans grew its position in United States Oil Fund by 21.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 6,943 shares of the company’s stock valued at $485,000 after acquiring an additional 1,225 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in United States Oil Fund by 4.9% in the third quarter. Daiwa Securities Group Inc. now owns 29,900 shares of the company’s stock worth $2,091,000 after purchasing an additional 1,400 shares during the period. Finally, Harvest Fund Management Co. Ltd lifted its position in shares of United States Oil Fund by 15.1% during the third quarter. Harvest Fund Management Co. Ltd now owns 44,452 shares of the company’s stock worth $3,108,000 after purchasing an additional 5,825 shares during the last quarter.

United States Oil Fund Trading Down 2.5 %

Shares of USO opened at $73.32 on Tuesday. The firm has a fifty day moving average price of $77.41 and a 200-day moving average price of $74.36. The firm has a market capitalization of $1.26 billion, a P/E ratio of 22.43 and a beta of 0.62. United States Oil Fund LP has a 12-month low of $66.02 and a 12-month high of $84.58.

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.