United States Oil Fund (USO) Shares Gap Down to $11.08
United States Oil Fund LP (NYSEARCA:USO) shares gapped down prior to trading 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 hedge funds have recently bought and sold shares of USO. Gradient Investments LLC bought a new stake in shares of United States Oil Fund in the 3rd quarter worth $104,000. Stratos Wealth Partners LTD. bought a new stake in shares of United States Oil Fund in the 3rd quarter worth $145,000. Westside Investment Management Inc. increased its holdings in shares of United States Oil Fund by 900.0% in the 4th quarter. Westside Investment Management Inc. now owns 10,000 shares of the company’s stock worth $97,000 after purchasing an additional 9,000 shares in the last quarter. Stephens Inc. AR bought a new stake in shares of United States Oil Fund in the 4th quarter worth $140,000. Finally, FNY Investment Advisers LLC bought a new stake in shares of United States Oil Fund in the 3rd quarter worth $279,000.
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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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