Mirae Asset Global Investments Co. Ltd. Acquires New Position in United States Oil Fund LP $USO

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of United States Oil Fund LP (NYSEARCA:USO) during the 3rd quarter, Holdings Channel.com reports. The firm acquired 9,800 shares of the company’s stock, valued at approximately $1,427,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Roman Butler Fullerton & Co. purchased a new stake in shares of United States Oil Fund in the 3rd quarter worth $1,136,000. National Wealth Management Group LLC increased its stake in shares of United States Oil Fund by 21.5% during the third quarter. National Wealth Management Group LLC now owns 3,067 shares of the company’s stock valued at $447,000 after buying an additional 543 shares during the period. Sowell Financial Services LLC purchased a new position in shares of United States Oil Fund during the third quarter valued at $254,000. Sepio Capital LP increased its stake in shares of United States Oil Fund by 9.0% during the third quarter. Sepio Capital LP now owns 2,181 shares of the company’s stock valued at $318,000 after buying an additional 181 shares during the period. Finally, Herold Advisors Inc. purchased a new position in shares of United States Oil Fund during the third quarter valued at $218,000. 67.47% of the stock is owned by institutional investors.

United States Oil Fund Price Performance

USO stock opened at $148.41 on Friday. The business has a 50-day moving average price of $152.22 and a 200 day moving average price of $125.24. The company has a market capitalization of $1.89 billion, a P/E ratio of 19.22 and a beta of -0.05. United States Oil Fund LP has a 1-year low of $65.99 and a 1-year high of $171.82.

United States Oil Fund News Summary

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

• Positive Sentiment: Falling distillate inventories, resilient U.S. jobs growth and Middle East supply constraints are supporting a cautiously bullish longer-term oil outlook, which could help USO. Crude Oil Forecast: Why Falling Inventories Keep Supply Risks in Focus
• Positive Sentiment: Persistent concerns about Hormuz and Middle East supply risks are helping put a floor under oil prices. Natural Gas and Oil Forecast: Hormuz Risks Persist, Can Brent Reclaim $104?
• Neutral Sentiment: Oil rebounded from critical support and held gains after a selloff, but trading remains volatile and technical signals point to possible further downside. WTI Price Forecast: Crude Oil Rebounds From Critical Support
• Negative Sentiment: Analysts and traders see signs of a return to excess oil supply as high prices curb demand—a bearish risk for USO. As high oil prices curb demand, fresh signs of glut appear
• Negative Sentiment: Oil was on track for a sharp weekly decline, with easing concerns about escalation in the Iran conflict and recovering Gulf supply weighing on prices. Oil set for sharp weekly drop but Middle East supply concerns provide floor

Insider Transactions at United States Oil Fund

In other United States Oil Fund news, major shareholder Financial Lp Hrt bought 101,212 shares of the business’s stock in a transaction on Monday, September 14th. The shares were acquired at an average price of $158.02 per share, with a total value of $15,993,520.24. Following the transaction, the insider owned 61,589 shares of the company’s stock, valued at approximately $9,732,293.78. This trade represents a -255.44% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have bought 148,833 shares of company stock worth $23,385,278 and have sold 95,353 shares worth $14,737,344.

United States Oil Fund 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.