United States Oil Fund (NYSEARCA:USO) Hits New 1-Year High – Time to Buy?

United States Oil Fund LP (NYSEARCA:USO)’s share price reached a new 52-week high during trading on Friday. The company traded as high as $170.44 and last traded at $169.88, with a volume of 1,149,550 shares traded. The stock had previously closed at $168.19.

United States Oil Fund Price Performance

The firm’s 50-day moving average price is $149.40 and its 200-day moving average price is $122.77. The company has a market cap of $1.93 billion, a price-to-earnings ratio of 19.22 and a beta of 0.01.

Insider Activity

In other news, major shareholder Financial Lp Hrt sold 17,023 shares of the business’s stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $157.58, for a total transaction of $2,682,484.34. Following the transaction, the insider directly owned 128,543 shares of the company’s stock, valued at approximately $20,255,805.94. The trade was a 11.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders have purchased 148,833 shares of company stock worth $23,385,278 and have sold 95,353 shares worth $14,737,344.

Institutional Trading of United States Oil Fund

Several institutional investors and hedge funds have recently bought and sold shares of USO. Parallel Advisors LLC acquired a new stake in shares of United States Oil Fund in the 1st quarter worth about $57,000. Signature Equity Partners LLC grew its stake in shares of United States Oil Fund by 240.6% in the third quarter. Signature Equity Partners LLC now owns 579 shares of the company’s stock worth $84,000 after purchasing an additional 409 shares in the last quarter. Fifth Third Bancorp increased its stake in United States Oil Fund by 11.6% during the 1st quarter. Fifth Third Bancorp now owns 1,116 shares of the company’s stock valued at $142,000 after buying an additional 116 shares during the period. Greenfield Seitz Capital Management LLC acquired a new stake in shares of United States Oil Fund in the 3rd quarter worth approximately $216,000. Finally, Herold Advisors Inc. bought a new stake in United States Oil Fund during the third quarter worth approximately $218,000. Institutional investors and hedge funds own 67.47% of the company’s stock.

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.