United States Oil Fund (NYSEARCA:USO) Shares Gap Down – Time to Sell?

United States Oil Fund LP (NYSEARCA:USO)’s share price gapped down prior to trading on Monday . The stock had previously closed at $74.23, but opened at $69.77. United States Oil Fund shares last traded at $70.46, with a volume of 2,747,225 shares traded.

United States Oil Fund Stock Down 1.1 %

The firm’s 50-day simple moving average is $72.80 and its 200-day simple moving average is $75.67. The firm has a market capitalization of $1.21 billion, a PE ratio of 22.97 and a beta of 0.10.

Hedge Funds Weigh In On United States Oil Fund

Several institutional investors and hedge funds have recently bought and sold shares of USO. Brookstone Capital Management bought a new position in United States Oil Fund in the first quarter worth about $228,000. Kovack Advisors Inc. purchased a new position in shares of United States Oil Fund in the 1st quarter valued at approximately $258,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of United States Oil Fund during the first quarter valued at approximately $874,000. Daiwa Securities Group Inc. grew its stake in United States Oil Fund by 0.8% in the first quarter. Daiwa Securities Group Inc. now owns 26,000 shares of the company’s stock worth $2,047,000 after purchasing an additional 200 shares during the period. Finally, Flow Traders U.S. LLC raised its holdings in United States Oil Fund by 12.6% in the first quarter. Flow Traders U.S. LLC now owns 452,504 shares of the company’s stock worth $35,626,000 after purchasing an additional 50,461 shares in the last quarter.

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.