United States Oil Fund (NYSEARCA:USO) Shares Break Above Fifty Day Moving Average – Here’s Why

United States Oil Fund LP (NYSEARCA:USO) shares crossed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $137.26 and traded as high as $150.67. United States Oil Fund shares last traded at $150.02, with a volume of 5,913,594 shares.

Key Stories Impacting United States Oil Fund

Here are the key news stories impacting United States Oil Fund this week:

• Positive Sentiment: Middle East tensions remain a bullish catalyst. A reported third U.S. aircraft carrier deployment, shipping risks in the Strait of Hormuz, and projectiles striking three oil tankers could threaten future crude flows and support oil prices. Brent Oil Is Back Above $100 as a Third Aircraft Carrier Heads to the Middle East
• Positive Sentiment: China’s suspension of fuel exports and a proposed $8.4 billion South Korean oil-recovery project could tighten refined-product availability or support future energy demand, offering some support to USO’s underlying crude exposure. Trump says US deal with South Korea includes $8.4 billion for oil recovery
• Neutral Sentiment: WTI rebounded from support and USO recently moved above its 50-day moving average, but technical resistance remains near higher crude-price levels. The fund’s direction will likely depend on whether geopolitical risk produces an actual supply disruption. United States Oil Fund Stock Breaks Above 50 Day Moving Average
• Negative Sentiment: The G-7 agreed to release roughly 100 million barrels of crude and oil products, while European governments are considering diesel-reserve releases. Additional available supply reduces scarcity premiums and is bearish for crude-linked funds such as USO. G-7 Agrees to Release 100 Million Barrels of Crude and Oil Products
• Negative Sentiment: Crude prices fell after a much weaker-than-expected U.S. employment report, raising concerns about economic growth and fuel demand. Recovering Middle East exports and increased Saudi loadings from Yanbu are also easing immediate supply fears. Oil Price Forecast – Crude Falls into the Weekend

United States Oil Fund Stock Performance

The firm’s fifty day simple moving average is $137.47 and its 200 day simple moving average is $130.43. The stock has a market capitalization of $1.87 billion, a P/E ratio of 19.22 and a beta of -0.02.

Insider Activity

In related news, major shareholder Financial Lp Hrt sold 17,023 shares of United States Oil Fund stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $157.58, for a total value of $2,682,484.34. Following the transaction, the insider directly owned 128,543 shares of the company’s stock, valued at $20,255,805.94. This trade represents a 11.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders have purchased 148,833 shares of company stock worth $23,385,278 and have sold 95,353 shares worth $14,737,344.

Institutional Investors Weigh In On United States Oil Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hamilton Wealth LLC bought a new stake in shares of United States Oil Fund during the 1st quarter valued at approximately $55,001,000. Bank of America Corp DE lifted its stake in United States Oil Fund by 117.1% in the 1st quarter. Bank of America Corp DE now owns 143,881 shares of the company’s stock valued at $18,309,000 after purchasing an additional 77,617 shares during the last quarter. Caption Management LLC bought a new position in United States Oil Fund in the 4th quarter valued at approximately $5,201,000. Harvest Fund Management Co. Ltd boosted its position in United States Oil Fund by 33.9% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 239,149 shares of the company’s stock valued at $17,030,000 after buying an additional 60,569 shares in the last quarter. Finally, Parker Investment Management LLC acquired a new stake in United States Oil Fund in the first quarter valued at approximately $6,364,000. 67.47% of the stock is currently owned by institutional investors.

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.