United States 12 Month Oil Fund (NYSEARCA:USL) Trading Down 1.8% – What’s Next?

United States 12 Month Oil Fund LP (NYSEARCA:USL)’s stock price fell 1.8% on Wednesday . The stock traded as low as $56.03 and last traded at $56.53. Approximately 5,816 shares traded hands during trading, a decline of 80% from the average daily volume of 29,587 shares. The stock had previously closed at $57.54.

United States 12 Month Oil Fund Stock Performance

The stock’s 50 day simple moving average is $51.41 and its 200-day simple moving average is $50.10.

Hedge Funds Weigh In On United States 12 Month Oil Fund

Several hedge funds have recently made changes to their positions in USL. Virtu Financial LLC purchased a new position in United States 12 Month Oil Fund in the 4th quarter worth $1,523,000. Integrated Wealth Concepts LLC purchased a new stake in United States 12 Month Oil Fund during the 2nd quarter valued at about $92,000. Finally, Continuum Advisory LLC acquired a new position in shares of United States 12 Month Oil Fund in the second quarter valued at about $43,000.

About United States 12 Month Oil Fund

The United States 12 Month Oil Fund, LP (USL) is an exchange-traded fund that is based on the 12 Month Light Sweet Crude Oil index. The fund tracks light, sweet crude oil spot prices using an average of the 12 nearest-month NYMEX WTI crude oil futures contracts. USL was launched on Dec 6, 2007 and is managed by US Commodity Funds.