United States Oil Fund (NYSEARCA:USO) Sets New 1-Year High on Insider Buying Activity

United States Oil Fund LP (NYSEARCA:USO)’s stock price reached a new 52-week high during mid-day trading on Wednesday following insider buying activity. The stock traded as high as $163.35 and last traded at $161.86, with a volume of 6816128 shares traded. The stock had previously closed at $156.66.

Specifically, major shareholder Financial Lp Hrt bought 3,983 shares of the firm’s stock in a transaction that occurred on Friday, September 11th. The stock was acquired at an average price of $154.35 per share, with a total value of $614,776.05. Following the completion of the purchase, the insider directly owned 161,583 shares of the company’s stock, valued at $24,940,336.05. This represents a 2.53% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Financial Lp Hrt bought 101,212 shares of the stock in a transaction that occurred on Monday, September 14th. The shares were purchased at an average cost of $158.02 per share, for a total transaction of $15,993,520.24. Following the completion of the acquisition, the insider owned 61,589 shares of the company’s stock, valued at $9,732,293.78. This trade represents a -255.44% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure.

Key United States Oil Fund News

Here are the key news stories impacting United States Oil Fund this week:

• Positive Sentiment: WTI found technical support near $99.30, and a break above $102.50 could reopen a path toward approximately $107.47–$109.74. Oil also rebounded from session lows as traders bought the dip and refocused on supply risks. WTI Crude Oil Forecast: $99 Support Keeps Upside Intact Oil Rebounds From Session Lows As Traders Focus On Supply Risks
• Positive Sentiment: U.S. crude inventories declined for a third consecutive week, a potentially supportive signal for oil prices, although rising gasoline and distillate inventories limited the bullish impact. U.S. Crude Oil Stockpiles Post Moderate Draw
• Neutral Sentiment: Major shareholder Financial Lp Hrt reported both purchases and sales of USO. Its latest transaction was a net increase of 26,615 shares, but the mixed activity offers limited directional information. SEC filing
• Negative Sentiment: Oil prices extended losses after reports that Saudi Arabia could restore or offer additional export cargoes, reducing fears of a prolonged Middle East supply shortage. Oil Prices Extend Losses as Fears of Supply Disruptions Ease
• Negative Sentiment: The Federal Reserve’s rate hike has increased concern that higher borrowing costs could weaken economic activity and oil demand. Futures market backwardation, rising non-OPEC supply and potential demand destruction add pressure to the outlook. The Fed’s Rate Hike Could Backfire If Oil Prices Collapse

United States Oil Fund Stock Performance

The stock’s fifty day simple moving average is $132.29 and its two-hundred day simple moving average is $127.11. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of 19.22 and a beta of -0.02.

Institutional Trading of United States Oil Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Sovereign Financial Group Inc. bought a new stake in shares of United States Oil Fund during the 1st quarter worth $1,749,000. Bank of America Corp DE grew its holdings in shares of United States Oil Fund by 117.1% in the 1st quarter. Bank of America Corp DE now owns 143,881 shares of the company’s stock worth $18,309,000 after acquiring an additional 77,617 shares during the last quarter. Arkadios Wealth Advisors acquired a new stake in shares of United States Oil Fund during the first quarter worth $5,326,000. Professional Financial Advisors LLC acquired a new stake in shares of United States Oil Fund during the second quarter worth $1,178,000. Finally, Harvest Fund Management Co. Ltd raised its position in shares of United States Oil Fund by 33.9% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 239,149 shares of the company’s stock worth $17,030,000 after purchasing an additional 60,569 shares during the period. 67.47% of the stock is currently owned by institutional investors.

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.