United States Oil Fund (NYSEARCA:USO) Reaches New 1-Year Low – What’s Next?

Shares of United States Oil Fund LP (NYSEARCA:USO) reached a new 52-week low during trading on Friday . The stock traded as low as $65.50 and last traded at $67.34, with a volume of 4002386 shares changing hands. The stock had previously closed at $72.25.

United States Oil Fund Stock Performance

The business’s fifty day moving average price is $74.96 and its two-hundred day moving average price is $74.48. The firm has a market capitalization of $911.49 million, a P/E ratio of 23.33 and a beta of 0.06.

Hedge Funds Weigh In On United States Oil Fund

Large investors have recently made changes to their positions in the business. Murphy & Mullick Capital Management Corp acquired a new position in United States Oil Fund during the 4th quarter valued at about $25,000. Wilmington Savings Fund Society FSB purchased a new position in shares of United States Oil Fund in the 3rd quarter valued at approximately $31,000. IFP Advisors Inc boosted its stake in United States Oil Fund by 35.4% in the 4th quarter. IFP Advisors Inc now owns 765 shares of the company’s stock worth $58,000 after purchasing an additional 200 shares in the last quarter. National Bank of Canada FI grew its position in United States Oil Fund by 35.1% during the 4th quarter. National Bank of Canada FI now owns 770 shares of the company’s stock worth $58,000 after purchasing an additional 200 shares during the last quarter. Finally, St. Johns Investment Management Company LLC acquired a new position in United States Oil Fund during the 4th quarter valued at approximately $97,000.

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.