United States Oil Fund (NYSEARCA:USO) Shares Down 3.4% – What’s Next?

United States Oil Fund LP (NYSEARCA:USO)’s stock price fell 3.4% during mid-day trading on Monday . The company traded as low as $78.95 and last traded at $77.53. 2,118,220 shares changed hands during mid-day trading, a decline of 42% from the average session volume of 3,669,609 shares. The stock had previously closed at $80.22.

United States Oil Fund Trading Down 1.5%

The stock has a 50 day simple moving average of $68.09 and a 200-day simple moving average of $72.70. The firm has a market cap of $1.27 billion, a P/E ratio of 19.22 and a beta of 0.43.

Hedge Funds Weigh In On United States Oil Fund

A number of large investors have recently bought and sold shares of USO. NewEdge Advisors LLC lifted its holdings in shares of United States Oil Fund by 1.6% in the 1st quarter. NewEdge Advisors LLC now owns 11,948 shares of the company’s stock worth $924,000 after buying an additional 187 shares during the period. IFP Advisors Inc lifted its position in shares of United States Oil Fund by 35.4% during the fourth quarter. IFP Advisors Inc now owns 765 shares of the company’s stock valued at $58,000 after buying an additional 200 shares during the last quarter. National Bank of Canada FI lifted its position in shares of United States Oil Fund by 35.1% during the fourth quarter. National Bank of Canada FI now owns 770 shares of the company’s stock valued at $58,000 after buying an additional 200 shares during the last quarter. Mariner LLC raised its stake in United States Oil Fund by 2.9% in the fourth quarter. Mariner LLC now owns 9,085 shares of the company’s stock valued at $686,000 after buying an additional 252 shares during the last quarter. Finally, Murphy & Mullick Capital Management Corp purchased a new stake in United States Oil Fund in the fourth quarter valued at about $25,000.

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.