United States Oil Fund (NYSEARCA:USO) Sets New 52-Week High – Time to Buy?

United States Oil Fund LP (NYSEARCA:USO)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $83.42 and last traded at $83.34, with a volume of 1667567 shares trading hands. The stock had previously closed at $81.67.

United States Oil Fund Stock Performance

The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 22.97 and a beta of 0.10. The company’s 50 day simple moving average is $73.76 and its two-hundred day simple moving average is $74.42.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. CWM LLC increased its stake in shares of United States Oil Fund by 134.2% during the 3rd quarter. CWM LLC now owns 2,558 shares of the company’s stock worth $179,000 after purchasing an additional 1,466 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in United States Oil Fund by 4.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 29,900 shares of the company’s stock valued at $2,091,000 after buying an additional 1,400 shares during the last quarter. TOMS Capital Investment Management LP acquired a new position in United States Oil Fund in the 3rd quarter valued at $2,328,000. Bank of Montreal Can grew its stake in United States Oil Fund by 258.1% in the 3rd quarter. Bank of Montreal Can now owns 31,153 shares of the company’s stock valued at $2,189,000 after buying an additional 22,454 shares during the last quarter. Finally, Creative Planning grew its stake in United States Oil Fund by 7.7% in the 2nd quarter. Creative Planning now owns 11,840 shares of the company’s stock valued at $942,000 after buying an additional 849 shares during 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.