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

United States Oil Fund LP (NYSEARCA:USOGet Free Report)’s share price hit a new 52-week high during mid-day trading on Saturday . The stock traded as high as $125.30 and last traded at $124.20, with a volume of 32606633 shares. The stock had previously closed at $117.26.

Key Headlines Impacting United States Oil Fund

Here are the key news stories impacting United States Oil Fund this week:

United States Oil Fund Price Performance

The stock has a market cap of $1.64 billion, a PE ratio of 19.22 and a beta of 0.40. The stock’s fifty day moving average price is $90.41 and its 200 day moving average price is $77.93.

Institutional Trading of United States Oil Fund

Several institutional investors have recently added to or reduced their stakes in the business. Caption Management LLC bought a new stake in United States Oil Fund in the 4th quarter worth about $5,201,000. Harvest Fund Management Co. Ltd lifted its stake in United States Oil Fund by 33.9% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 239,149 shares of the company’s stock valued at $17,030,000 after acquiring an additional 60,569 shares during the period. Jump Financial LLC lifted its stake in United States Oil Fund by 67.3% during the 2nd quarter. Jump Financial LLC now owns 131,279 shares of the company’s stock valued at $9,598,000 after acquiring an additional 52,830 shares during the period. Davidson Kempner Capital Management LP purchased a new stake in shares of United States Oil Fund during the 3rd quarter valued at about $3,478,000. Finally, Flow Traders U.S. LLC purchased a new stake in shares of United States Oil Fund during the 3rd quarter valued at about $3,062,000. 67.47% of the stock is currently owned by hedge funds and other institutional investors.

About United States Oil Fund

(Get Free Report)

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.

Further Reading

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