United States Oil Fund LP (USO) Sees Large Growth in Short Interest
United States Oil Fund LP (NYSEARCA:USO) was the recipient of a large increase in short interest during the month of October. As of October 31st, there was short interest totalling 66,454,037 shares, an increase of 11.4% from the October 13th total of 59,678,514 shares. Based on an average daily volume of 15,257,455 shares, the days-to-cover ratio is presently 4.4 days.
Institutional investors have recently made changes to their positions in the business. National Asset Management Inc. bought a new position in United States Oil Fund in the 2nd quarter valued at $100,000. BSW Wealth Partners bought a new position in United States Oil Fund in the 3rd quarter valued at $116,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in United States Oil Fund in the 2nd quarter valued at $137,000. BlueCrest Capital Management Ltd bought a new position in United States Oil Fund in the 2nd quarter valued at $140,000. Finally, Allegis Investment Advisors LLC grew its position in United States Oil Fund by 1.9% in the 2nd quarter. Allegis Investment Advisors LLC now owns 15,824 shares of the company’s stock valued at $150,000 after acquiring an additional 300 shares during the last quarter.
United States Oil Fund (NYSEARCA USO) opened at $11.35 on Friday. United States Oil Fund has a 12-month low of $8.65 and a 12-month high of $12.00.
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.
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