United States Oil Fund (NYSEARCA:USO) Stock Price Passes Above Fifty Day Moving Average – What’s Next?

United States Oil Fund LP (NYSEARCA:USO)’s stock price passed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $75.82 and traded as high as $78.26. United States Oil Fund shares last traded at $78.02, with a volume of 3,536,788 shares changing hands.

United States Oil Fund Stock Performance

The company’s fifty day simple moving average is $75.82 and its two-hundred day simple moving average is $74.43. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 22.97 and a beta of 0.10.

Hedge Funds Weigh In On United States Oil Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of USO. Wilmington Savings Fund Society FSB acquired a new stake in shares of United States Oil Fund in the third quarter valued at approximately $31,000. Truist Financial Corp increased its position in United States Oil Fund by 6.3% in the 4th quarter. Truist Financial Corp now owns 10,842 shares of the company’s stock valued at $819,000 after acquiring an additional 645 shares during the period. SG Americas Securities LLC raised its stake in United States Oil Fund by 47.6% during the 3rd quarter. SG Americas Securities LLC now owns 2,548 shares of the company’s stock valued at $178,000 after acquiring an additional 822 shares in the last quarter. Creative Planning boosted its position in United States Oil Fund by 7.7% during the 2nd quarter. Creative Planning now owns 11,840 shares of the company’s stock worth $942,000 after acquiring an additional 849 shares during the period. Finally, Thrivent Financial for Lutherans grew its stake in shares of United States Oil Fund by 21.4% in the third quarter. Thrivent Financial for Lutherans now owns 6,943 shares of the company’s stock worth $485,000 after purchasing an additional 1,225 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.