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

United States Oil Fund LP (NYSEARCA:USO) gapped down before the market opened 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 trading hands.

United States Oil Fund Stock Down 1.1 %

The firm’s fifty day moving average price is $72.80 and its two-hundred day moving average price is $75.67. The stock 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

Hedge funds and other institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. purchased a new position in shares of United States Oil Fund in the second quarter worth approximately $28,422,000. International Assets Investment Management LLC raised its position in United States Oil Fund by 2,024.3% in the third quarter. International Assets Investment Management LLC now owns 147,531 shares of the company’s stock worth $10,315,000 after acquiring an additional 140,586 shares during the period. Flow Traders U.S. LLC boosted its stake in shares of United States Oil Fund by 12.6% during the 1st quarter. Flow Traders U.S. LLC now owns 452,504 shares of the company’s stock worth $35,626,000 after acquiring an additional 50,461 shares during the last quarter. Toronto Dominion Bank bought a new stake in shares of United States Oil Fund during the 2nd quarter valued at $2,867,000. Finally, Cetera Investment Advisers purchased a new stake in shares of United States Oil Fund in the 1st quarter worth $2,491,000.

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.