Sovereign Financial Group Inc. Acquires New Position in United States Oil Fund LP $USO

Sovereign Financial Group Inc. acquired a new stake in shares of United States Oil Fund LP (NYSEARCA:USO) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,741 shares of the company’s stock, valued at approximately $1,749,000. Sovereign Financial Group Inc. owned approximately 0.08% of United States Oil Fund at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Triad Wealth Partners LLC acquired a new stake in shares of United States Oil Fund in the 1st quarter valued at $205,000. Ionic Capital Management LLC acquired a new position in shares of United States Oil Fund during the 4th quarter worth $244,000. Caption Management LLC acquired a new position in shares of United States Oil Fund during the 4th quarter worth $5,201,000. Cetera Investment Advisers lifted its position in shares of United States Oil Fund by 50.8% during the 4th quarter. Cetera Investment Advisers now owns 16,809 shares of the company’s stock worth $1,163,000 after buying an additional 5,662 shares during the last quarter. Finally, Kovack Advisors Inc. bought a new stake in shares of United States Oil Fund during the 4th quarter worth $307,000. 67.47% of the stock is currently owned by institutional investors and hedge funds.

Key United States Oil Fund News

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

• Positive Sentiment: Oil prices briefly moved higher as renewed doubts about Middle East peace talks and stalled shipping through the Strait of Hormuz raised supply disruption concerns, which can support USO. Global markets wrapup: Stocks slip in Asia, oil up on peace doubts
• Positive Sentiment: Brent crude rose above $81 a barrel after bumpy U.S.-Iran peace talks, reflecting continued market concern about potential supply interruptions. Brent oil rises more than $1 a barrel after bumpy start to US-Iran peace talks
• Neutral Sentiment: The U.S. Energy Department said one firm borrowed 500,000 barrels from the Strategic Petroleum Reserve, part of a Trump administration effort to curb fuel prices; the move may add near-term supply. US loans 500,000 barrels of oil from Strategic Petroleum Reserve
• Neutral Sentiment: Goldman Sachs said faster EV adoption could reduce oil demand by late 2027, a longer-term bearish factor for crude. Goldman Sachs says EV surge may cut oil demand by late 2027
• Negative Sentiment: Reports that Iranian oil could flood the market and Goldman’s warning that a China-led EV boom could push Brent toward $55 point to weaker future oil prices, which is a headwind for USO. Iranian Oil Is About to Flood the Market. Has the Feds Biggest Pressure Valve Been Released? China-led EV boom could cut oil demand and send Brent to $55, Goldman says
• Negative Sentiment: Oil prices fell as mediators eased U.S.-Iran tensions, reinforcing the market’s view that geopolitical risk premiums may be fading. Oil Prices Fall as Mediators Ease U.S.-Iran Tensions After Hormuz Closure

United States Oil Fund Stock Down 1.9%

NYSEARCA:USO opened at $112.69 on Tuesday. The stock’s 50-day simple moving average is $133.06 and its 200 day simple moving average is $103.26. The firm has a market capitalization of $1.52 billion, a PE ratio of 19.22 and a beta of -0.04. United States Oil Fund LP has a twelve month low of $65.99 and a twelve month high of $154.08.

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.