United States Oil Fund (NYSEARCA:USO) Hits New 52-Week Low – Time to Sell?

United States Oil Fund LP (NYSEARCA:USO) shares hit a new 52-week low on Friday . The company traded as low as $65.50 and last traded at $67.34, with a volume of 4002386 shares changing hands. The stock had previously closed at $72.25.

United States Oil Fund Trading Down 6.0 %

The company has a market capitalization of $911.49 million, a PE ratio of 23.33 and a beta of 0.06. The firm’s 50-day simple moving average is $74.96 and its 200-day simple moving average is $74.48.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Rockefeller Capital Management L.P. grew its holdings in United States Oil Fund by 32.7% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 15,887 shares of the company’s stock worth $1,111,000 after acquiring an additional 3,918 shares in the last quarter. Kovitz Investment Group Partners LLC purchased a new stake in shares of United States Oil Fund in the 3rd quarter worth approximately $2,829,000. Savoie Capital LLC bought a new position in shares of United States Oil Fund during the third quarter valued at approximately $3,699,000. Wilmington Savings Fund Society FSB purchased a new position in United States Oil Fund during the third quarter valued at approximately $31,000. Finally, FFG Partners LLC raised its stake in United States Oil Fund by 2.2% in the third quarter. FFG Partners LLC now owns 76,277 shares of the company’s stock worth $5,333,000 after buying an additional 1,640 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.