Global Wealth Management LLC Buys New Position in United States Oil Fund LP (NYSEARCA:USO)

Global Wealth Management LLC bought a new stake in shares of United States Oil Fund LP (NYSEARCA:USO) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 12,220 shares of the company’s stock, valued at approximately $923,000. United States Oil Fund accounts for approximately 0.6% of Global Wealth Management LLC’s investment portfolio, making the stock its 16th biggest holding. Global Wealth Management LLC owned about 0.07% of United States Oil Fund at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. International Assets Investment Management LLC boosted its stake in United States Oil Fund by 2,024.3% during the 3rd quarter. International Assets Investment Management LLC now owns 147,531 shares of the company’s stock valued at $10,315,000 after purchasing an additional 140,586 shares during the period. FFG Partners LLC raised its holdings in United States Oil Fund by 2.2% in the 3rd quarter. FFG Partners LLC now owns 76,277 shares of the company’s stock valued at $5,333,000 after acquiring an additional 1,640 shares in the last quarter. Clearline Capital LP acquired a new position in United States Oil Fund in the 3rd quarter valued at approximately $5,323,000. Savoie Capital LLC acquired a new position in United States Oil Fund in the 3rd quarter valued at approximately $3,699,000. Finally, Harvest Fund Management Co. Ltd raised its holdings in United States Oil Fund by 15.1% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 44,452 shares of the company’s stock valued at $3,108,000 after acquiring an additional 5,825 shares in the last quarter.

United States Oil Fund Stock Down 0.5 %

United States Oil Fund stock opened at $82.52 on Monday. The business has a 50 day moving average price of $74.31 and a two-hundred day moving average price of $74.46. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 22.97 and a beta of 0.10. United States Oil Fund LP has a 12 month low of $66.02 and a 12 month high of $84.58.

About United States Oil Fund

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.