United States Oil Fund LP (NYSEARCA:USO) shares gapped down before the market opened on Monday . The stock had previously closed at $11.32, but opened at $11.08. United States Oil Fund shares last traded at $11.01, with a volume of 23565947 shares trading hands.
A number of institutional investors and hedge funds have recently modified their holdings of USO. Advisor Group Inc. boosted its holdings in United States Oil Fund by 201.0% during the 4th quarter. Advisor Group Inc. now owns 63,514 shares of the company’s stock valued at $614,000 after acquiring an additional 42,413 shares during the period. Stephens Inc. AR purchased a new stake in United States Oil Fund during the 4th quarter valued at about $140,000. F3Logic LLC boosted its holdings in United States Oil Fund by 82.1% during the 4th quarter. F3Logic LLC now owns 29,388 shares of the company’s stock valued at $284,000 after acquiring an additional 13,252 shares during the period. Sumitomo Mitsui Financial Group Inc. purchased a new stake in United States Oil Fund during the 4th quarter valued at about $13,543,000. Finally, LPL Financial LLC boosted its holdings in United States Oil Fund by 3.0% during the 4th quarter. LPL Financial LLC now owns 775,440 shares of the company’s stock valued at $7,491,000 after acquiring an additional 22,884 shares during the period.
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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.
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