United States Oil (USO) Short Interest Up 12.1% in November
United States Oil (NYSEARCA:USO) was the target of a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 74,473,656 shares, an increase of 12.1% from the October 31st total of 66,454,037 shares. Based on an average trading volume of 19,685,862 shares, the days-to-cover ratio is currently 3.8 days.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Commerzbank Aktiengesellschaft FI grew its stake in United States Oil by 64.7% during the second quarter. Commerzbank Aktiengesellschaft FI now owns 2,691,042 shares of the company’s stock worth $25,565,000 after buying an additional 1,057,112 shares during the last quarter. Toronto Dominion Bank lifted its position in shares of United States Oil by 50.0% during the second quarter. Toronto Dominion Bank now owns 150,000 shares of the company’s stock worth $1,425,000 after purchasing an additional 50,000 shares in the last quarter. Private Advisor Group LLC lifted its position in shares of United States Oil by 25.2% during the second quarter. Private Advisor Group LLC now owns 91,901 shares of the company’s stock worth $839,000 after purchasing an additional 18,501 shares in the last quarter. Prudential PLC acquired a new position in shares of United States Oil during the second quarter worth approximately $532,000. Finally, City Financial Investment Co Ltd acquired a new position in shares of United States Oil during the second quarter worth approximately $2,666,000.
Shares of United States Oil (USO) opened at $11.59 on Tuesday. United States Oil has a 52 week low of $8.65 and a 52 week high of $12.00.
About United States Oil
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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