United States Oil Fund (NYSEARCA:USO) Trading Down 5.4% – Should You Sell?

United States Oil Fund LP (NYSEARCA:USO) fell 5.4% on Tuesday . The stock traded as low as $114.86 and last traded at $115.50. 5,091,416 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 18,733,426 shares. The stock had previously closed at $122.12.

Trending Headlines about United States Oil Fund

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

• Positive Sentiment: Oil-market supply remains constrained. Gulf exports were approximately 40% below pre-war levels in July, while disruptions and tanker shortages continued to hamper the Caspian Pipeline Consortium’s shipments of Kazakh crude. These developments support crude prices and USO. Gulf oil exports steady in July, still 40% below pre-war mark CPC oil loadings falter over safety issues and tanker shortages
• Positive Sentiment: The conflict and uncertainty surrounding traffic through the Strait of Hormuz continue to provide a geopolitical risk premium. Any renewed fighting, delays in reopening the waterway, or further export interruptions could lift crude futures and benefit USO. Oil Declines Amid Growing Optimism Over Reopening of Strait of Hormuz
• Neutral Sentiment: Oil has held relatively steady as investors await evidence of progress on Hormuz reopening and U.S.-Iran negotiations. The market is balancing severe current supply risks against the possibility of restored shipments and lower risk premiums. Chip Stocks Weaken, Oil Steady as Investors Await Hormuz Progress
• Negative Sentiment: Diplomatic efforts involving Iran and Oman have raised hopes for a U.S.-Iran peace agreement and a reopening of the Strait of Hormuz. A normalization of shipping would increase available supply and could pressure oil prices and USO. Oil prices slip as Iran-Oman talks fuel hopes for US-Iran peace deal
• Negative Sentiment: U.S. crude inventories unexpectedly rose by 2.5 million barrels instead of declining, while OPEC+ plans to increase September output. The combination points to softer near-term fundamentals and is weighing on crude prices. U.S. Crude Oil Inventories Post Weekly Increase Natural Gas and Oil Forecast: OPEC+ Supply Shift, EIA Inventory Build Weigh on Crude

United States Oil Fund Trading Up 2.9%

The stock’s 50-day moving average is $120.81 and its 200-day moving average is $113.94. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of 19.22 and a beta of -0.03.

Institutional Investors Weigh In On United States Oil Fund

Several large investors have recently made changes to their positions in USO. Hamilton Wealth LLC purchased a new position in shares of United States Oil Fund in the 1st quarter valued at $55,001,000. Harvest Fund Management Co. Ltd increased its holdings in United States Oil Fund by 33.9% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 239,149 shares of the company’s stock valued at $17,030,000 after purchasing an additional 60,569 shares in the last quarter. Bank of America Corp DE increased its holdings in United States Oil Fund by 117.1% in the 1st quarter. Bank of America Corp DE now owns 143,881 shares of the company’s stock valued at $18,309,000 after purchasing an additional 77,617 shares in the last quarter. Caption Management LLC purchased a new position in United States Oil Fund in the fourth quarter valued at about $5,201,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of United States Oil Fund by 65.1% during the second quarter. JPMorgan Chase & Co. now owns 66,225 shares of the company’s stock worth $4,842,000 after purchasing an additional 26,102 shares in the last quarter. Institutional investors and hedge funds own 67.47% of the company’s stock.

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.