United States Oil Fund (NYSEARCA:USO) Shares Gap Down – Should You Sell?

United States Oil Fund LP (NYSEARCA:USO) gapped down prior to trading on Monday . The stock had previously closed at $153.82, but opened at $148.88. United States Oil Fund shares last traded at $149.37, with a volume of 934,588 shares.

United States Oil Fund Price Performance

The company’s fifty day moving average price is $133.19 and its 200 day moving average price is $127.58. The company has a market cap of $2.32 billion, a PE ratio of 19.22 and a beta of -0.02.

Insider Transactions at United States Oil Fund

In other United States Oil Fund news, major shareholder Financial Lp Hrt sold 17,023 shares of the stock in a transaction dated 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 completion of the sale, the insider owned 128,543 shares in the company, valued at approximately $20,255,805.94. This trade represents a 11.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have bought 148,833 shares of company stock valued at $23,385,278 and have sold 95,353 shares valued at $14,737,344.

Hedge Funds Weigh In On United States Oil Fund

Institutional investors have recently modified their holdings of the business. Parallel Advisors LLC purchased a new position in United States Oil Fund in the first quarter worth $57,000. Fifth Third Bancorp raised its stake in shares of United States Oil Fund by 11.6% during the 1st quarter. Fifth Third Bancorp now owns 1,116 shares of the company’s stock worth $142,000 after purchasing an additional 116 shares during the period. Triad Wealth Partners LLC bought a new stake in shares of United States Oil Fund during the 1st quarter worth $205,000. Main Street Group LTD purchased a new position in shares of United States Oil Fund in the 1st quarter worth about $223,000. Finally, Bank of Nova Scotia purchased a new position in shares of United States Oil Fund in the 1st quarter worth about $249,000. 67.47% of the stock is owned by institutional investors.

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.