United States Oil Fund (NYSEARCA:USO) Trading 2.7% Higher – Still a Buy?

United States Oil Fund LP (NYSEARCA:USO)’s stock price was up 2.7% during trading on Monday . The stock traded as high as $76.49 and last traded at $76.80. Approximately 705,014 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 3,129,542 shares. The stock had previously closed at $74.77.

United States Oil Fund Trading Down 0.3 %

The firm has a fifty day moving average price of $75.39 and a 200 day moving average price of $74.48. The firm has a market cap of $1.03 billion, a PE ratio of 23.33 and a beta of 0.06.

Institutional Trading of United States Oil Fund

Hedge funds have recently made changes to their positions in the company. Jump Financial LLC acquired a new stake in United States Oil Fund during the fourth quarter worth $10,399,000. Barclays PLC raised its holdings in United States Oil Fund by 53.9% in the 4th quarter. Barclays PLC now owns 177,860 shares of the company’s stock valued at $13,438,000 after buying an additional 62,292 shares during the period. Savoie Capital LLC acquired a new position in United States Oil Fund in the third quarter valued at about $3,699,000. JPMorgan Chase & Co. increased its position in shares of United States Oil Fund by 279,273.3% during the third quarter. JPMorgan Chase & Co. now owns 41,906 shares of the company’s stock valued at $2,930,000 after acquiring an additional 41,891 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC purchased a new stake in United States Oil Fund in the third quarter valued at approximately $2,829,000.

About United States Oil Fund

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.